Woolworths Supermarkets' Sales Growth Decelerates as Competition Reintensifies; FVE Unchanged
We maintain our fair value estimate on narrow-moat-rated Woolworths at AUD 24.50 per share after the company reported results broadly in line with our estimates, and shares screen as overvalued at current prices. The group’s Australian supermarket sales growth came roaring back in fiscal 2017 after significant price cuts; since then, comparable sales growth has outpaced that of archrival Coles throughout fiscal 2018. Unfortunately, competition rarely sleeps for too long.Coles has been picking ...
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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