Tuesday, June 25, 2024

Woolworths Group releases First Quarter Sales Results

“It has been a pleasing start to F21 with all retail businesses delivering strong sales growth and customer metrics remaining solid,” begins Woolworths Group CEO, Brad Banducci.

Woolworths group sales has increased by 12.3% in comparison to Q1’20, to $17.9 billion.

E-commerce services did not slow down, as it saw a $86.7% increase in comparison to Q1’20 to $1.5 billion.

“With Endeavour Group, Endeavour Drinks’ sales remained very strong (+21.4%) through the quarter with Dan Murphy’s and e-commerce sales, the highlights,” continues Mr Banducci.

“We continued to support our communities and team during the quarter. This included participating in food appeals on both sides of the Tasman and supporting residents during the Melbourne towers lockdown in Victoria.

“In October, Australian Food comparable sales growth was in the high single-digits, moderating over the month. Growth in New Zealand also showed relative to Q1.

“For the rest of the calendar year, we expect elevated sales and costs to continue as customers spend more time at home, continue to embrace e-commerce and we ensure our stores and DCs remain COVIDSafe.

Metro Food Stores

Metro Food Sales declined 5.1% to $235 million, materially impacted by reduced foot traffic across CBD areas and transport hubs, particularly in Victoria.

On-The-Go store comparable sales declined by approximately 50%, partly offset by growth in Neighbourhood stores.

Six net new stores (fiver Supermarkets and one Metro) were opened. Five supermarkets were temporarily converted to fulfil online demand in Victoria and five Metros temporarily ceased trading.

“Christmas is only 50 days away and it will be very different to previous years; however, we have worked hard as a team to ensure that all Woolworths Group businesses provide our customers with the opportunity to celebrate the spirit of Christmas in an enjoyable, affordable and COVIDSafe way,” concludes Mr Banducci.

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