Woolworths sharpens prices on household staples after sales figures disappoint

 In Australia, NewZealand, Woolworths
Woolworths is cutting prices for grocery staples and relaunching its popular animal trading cards in an attempt to reinvigorate sales and meet profit guidance after posting its lowest quarterly sales growth for more than a decade.
Three years after kicking off a wholesale review of grocery marketing to improve consumer price perceptions, chief executive Grant O’Brien admitted on Monday that Australia’s largest retailer needed to do more to overcome perceptions that its prices were not competitive with Coles’ and Aldi’s.
"It’s about the communication, it’s not about the actual pricing," Mr O’Brien told journalists after reporting that group sales for the 14 weeks to October 5 rose 3 per cent to $16.15 billion – the slowest rate of growth for more than 12 years – and same-store sales in Australian food and liquor grew at less than half the rate at Coles.  Sydney Morning Herald – Read more…

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