Woolworths breaks 7.5-year losing streak to beat arch rival Coles’ sale growth

 In Australia, Coles, NewZealand, Woolworths
Australia’s biggest supermarket chain has ended a 7.5-year losing streak to beat arch rival Coles on same-store sales growth in the December quarter, coming out in front for the first time since September 2009.
Woolworths has ploughed more than $1 billion to turn around its fortunes in the past year, and chief Brad Banducci said the momentum of the turnaround gave the business confidence it was "on the right track".
The 1.9 per cent like-for-like sales growth in the first half is a big psychological win for Woolies. It was boosted by a 3.1 per cent comparable store sales growth rate in the second quarter, an improvement on a 1.2 per cent slide in the previous corresponding quarter. Sydney Morning Herald – Read more…

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