Woolworths first-quarter sales beat expectations on supermarket gains

 In Australia, NewZealand, Woolworths
Retail giant Woolworths says it is still in discussions to sell its petrol business, as it posts a better-than-expected result for its flagship supermarket arm but remains weighed down by a poor performance by its discount department store, Big W.
Sales at Woolworths supermarkets (excluding new stores) rose by 0.7 per cent for the September quarter – higher than analyst expectations of between 0.3 per cent and 0.4 per cent, and the first positive growth for several quarters.
Overall, sales at the company’s Australian Food [supermarket] division grew by 1.7 per cent to $9.3 billion in the 14 weeks to October 2.
Chief executive Brad Banducci said the results were pleasing but "there remains much more to do." Woolworths did not provide guidance. Sydney Morning Herald – Read more…

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