Woolworths’ Food Sales Growth Stays Ahead of Its Peer--for Now; FVE Unchanged at AUD 24.50
Narrow-moat-rated Woolworths maintained sales growth momentum in its core Australian food segment, widening the gap with Coles in the third quarter of fiscal 2019. However, we expect this advantage to fade. We estimate Woolworths and Coles to grow sales at similar average rates over the longer term, as they have done in the recent past. On average, Woolworths’ like-for-like sales growth bested Coles’ by only 10 basis points over the past 15 quarters. All the while, Aldi grabbed market share and ...Woolworths Group is organized into five segments: Australian Food and Petrol, which involves the procurement of food and petroleum products for resale to customers in Australia; New Zealand Supermarkets, which involves the procurement of food and liquor and products for resale to customers in New Zealand; Endeavour Drinks Group, which involves the procurement of liquor products for resale to customers in Australia; BIG W, which involves the procurement of discount general merchandise products for resale to customers in Australia; as well as Hotels, which involves the provision of leisure and hospitality services, accommodation, entertainment and gaming in Australia.
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