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Australia's Woolworths warned of continued caution among consumers and cost-of-living pressures on Thursday, even as inflation moderated, as the supermarkets operator faced a slowdown in sales from...
Australian retailer Woolworths on Wednesday said it was selling a 5% stake in Endeavour Group, which operates liquor stores and pubs, generating proceeds of A$468 million . The sale will...
-Australia's Woolworths reported a rise in third-quarter sales on Thursday, boosted by an improving performance in the food retail segment, but warned of continued consumer caution... -May 01, 2024 at 07:04 pm EDT - MarketScreener
SYDNEY (Reuters) -Top Australian supermarket chain Woolworths said shelf prices had fallen in the March quarter as it competed for customers facing persistently high living costs, offsetting a consumer backlash but frustrating investors who sent shares lower. The quarterly update on Thursday shows the narrow path for Woolworths and No.2 rival Coles, which dominate Australian grocery sales. For Woolworths, which gets nearly 40 cents of every dollar spent by Australians in a supermarket, that meant cutting prices of fruit, vegetables and meat, which dragged down average prices by 0.2% in the 1...
(Reuters) -Australia's Coles flagged deflation in its fresh produce and meat products, with a moderation in price rises across its broader packaged categories amid a cost-of-living crisis sparked by stubbornly high inflation. The supermarket operator, which competes with bigger rival Woolworths, posted a 3.4% rise in third-quarter revenue on Tuesday, reflecting a jump in sales at its primary supermarkets operation helped by strong volume growth. Inflation numbers in Australia have eased over the last quarter but still remains comparatively high.