NEW Woolworths boss Grant O’Brien will revamp the flagship supermarket operation to arrest lacklustre growth in the key dried and packaged groceries segment, after yesterday reporting disappointing first-quarter sales.
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Details of the initiatives to ratchet up the performance of these grocery categories, which typically make up 70 per cent of supermarket sales and consist of products ranging from cornflakes to tinned fruit, will be unveiled on Wednesday when Woolworths will hold its first-ever strategy day.
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Mr O’Brien, who took the reins at the nation’s biggest retailer on October 1, said the Woolworths supermarket model was far from broken – it was increasing market share in packaged groceries – but the next phase of the company’s growth had to be built on better earnings from its non-fresh food offering. Sydney Morning Herald – Read more…