Woolworths wins with food and online in third quarter financial results
Woolworths says its online Australian food sales “continue to grow strongly” and increased by 30 per cent in its third quarter 2018 financial results when compared to its third quarter 2017 results.
The growth has been welcomed after Woolworths rolled out new click and collect services in an attempt to entice shoppers with online groceries as Amazon begins to establish itself in Australia.
Woolworths Group Food sales also increased by 4 per cent during the Group’s third quarter 2018 financial year when compared to its third quarter 2017 results.
Woolworths said “strong execution” of events including Easter and Valentine’s Day helped with the sales growth.
Woolworths also ran its “Earn and Learn” program during the quarter, encouraging consumers to shop at Woolworths to earn resources for their nominated school.
Brad Banducci, Woolworths Group Chief Executive Officer, said Woolworths is pleased with the progress of key priorities as the group pivots from “turnaround to transformation”.
“Woolworths Group’s sales performance remained strong in the third quarter of FY18 despite cycling much improved prior year growth,” Banducci said.
“Australian and New Zealand Food’s Easter-adjusted comparable sales increased 4.0 per cent and 3.8 per cent respectively despite the impact from the timing of New Year’s Day.
“Endeavour Drinks’ Easter-adjusted comparable sales increased by 3.3 per cent.
Big W still a work in progress
Despite success in food, Banducci listed Woolworths department chain Big W as still a work in progress.
“The BIG W turnaround is still a work in progress with sales declining marginally on an Easter-adjusted basis in the quarter,” Banducci said.
Focus for remainder of FY18
“Our focus for the remainder of FY18 is on delivering consistently good shopping experiences across all stores and days of the week, embedding current strategic initiatives including ‘Simpler for Stores’ and continuing to improve our digital experience,” Banducci concluded.
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