Woolworths blitzes Coles but Big W woes deepen

 In Australia, BigW, Coles, NewZealand, Woolworths
Woolworths has flagged higher costs for labour, fruit and vegetables and a wider loss for its troubled discount department store Big W this half, as it blitzed supermarket rival Coles with its strongest quarterly sales growth in years.
The country’s biggest supermarket chain said Australian food sales at its 1000-odd supermarkets grew 5.1 per cent in the third quarter to $9.28 billion, or 5.6 per cent adjusting for the timing of Easter.
Including Easter, like-for-like sales (which excludes new stores) grew by 4.5 per cent.
The like-for-like sales growth beat forecasts of 3.5 per cent, and outperformed the 0.8 per cent Easter-adjusted quarterly growth recently reported by Coles. Sydney Morning Herald – Read more…

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