Woolworths sales update

The headlines might suggest otherwise but the world’s most profitable grocer is doing just fine, thank you. Woolworths' full year sales (adjusted for Easter and excluding petrol) for the year ending 30 June 2013 rose 5.6% to $52bn with sales from the all important Australian food and liquor division up 3.7% to $40bn. The market was unimpressed by the result and pushed the share price down 2%, but considering annual price deflation of 2.9% it was an impressive performance. The company managed to squeeze 34 new supermarkets into its store network, and opened 16 Dan Murphy stores. Incredibly, there...

The headlines might suggest otherwise but the world’s most profitable grocer is doing just fine, thank you. Woolworths' full year sales (adjusted for Easter and excluding petrol) for the year ending 30 June 2013 rose 5.6% to $52bn with sales from the all important Australian food and liquor division up 3.7% to $40bn.

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