Woolworths books higher sales in fiscal first quarter
Woolworths Group enjoyed higher sales in the fiscal first quarter brought by higher revenue across all its segments.
The group’s sales grew 4.5 per cent to $18 billion as its Australian food segment increased 3.8 per cent to $13.6 billion and Australian B2B segment rose 6.9 per cent to $1.47 billion.
Its New Zealand food segment went up 1.4 per cent to $1.93 billion, while W Living soared 17 per cent to $1.36 billion, reflecting its acquisition of Petstock in January.
This is despite Big W’s revenue falling 0.9 per cent as the company increased its range of opening price points, lowered prices and customers chose more affordable options.
Other segments, which include revenue from Quantium, climbed 5.8 per cent to $58 million.
“In conclusion, we are pleased with the trading momentum in the lead up to the important Christmas trading period, however, we expect the environment for FY25 to remain challenging,” said Amanda Bardwell, Woolworths Group CEO.
“We will also continue to engage in good faith with the government and regulatory inquiries and investigations.”
The group expects earnings before interest and taxes (EBIT) of between $1.48 billion and $1.53 billion in the fiscal first half, lower than the $1.59 billion earnings it booked in the year-ago period.
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