Woolworths Supermarket Results Mixed with Strong Sales Momentum Yet to be Reflected in Profits
We were positively surprised by the strong sales growth of narrow-moat Woolworths’ supermarkets business in the fourth quarter. In contrast to its main competitor, Woolworths grew total sales by 4.5% in fiscal 2017 and took market share from Coles, where comparable food sales growth at its supermarkets decelerated to 1.0% in fiscal 2017, from 4.3% a year earlier. Woolworths’ comparable sales growth was extraordinarily strong at 6.4% in the fourth quarter of fiscal 2017, after adjusting for the t...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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