Woolworths Group posted higher sales in the fiscal third quarter, thanks to the positive performance across the majority of its segments.
The group’s sales grew 3.2 per cent year over year to $17.31 billion as its Australian food sales grew 3.6 per cent to $13.05 billion while New Zealand food sales inched 1.8 per cent higher to $1.92 billion.
The company noted that the Minecraft Cubeez collectibles program contributed to the growth of both its Australian and New Zealand grocery businesses.
Moreover, strong growth in PFD, export meat, and in the group’s third-party supply chain business helped its Australian business-to-business sales increased 6.3 per cent to $1.44 billion.
Meanwhile, W Living sales dipped 2.7 per cent to $1.22 billion as Big W sales fell 1.5 per cent to $986 million and Petstock sales dropped 9.7 per cent to $204 million.
Big W’s decline was due to challenges associated with the timing of stock receipts and shipping delays of its Spring/ Summer range while Petstock’s result was attributed to the divestment of 41 retail stores and 25 veterinary clinics on July 1, 2024.
Sales from the group’s ‘other’ category, which includes revenue from Quantum, rose 5.3 per cent to $59 million.
“Cost of living remains a concern for customers, however customer scores were largely stable during the quarter and sales growth rates improved modestly across the group,” Amanda Bardwell, Woolworths Group CEO, said.
“While the market remains competitive and consumer outlook uncertain, we are making progress in these areas and will provide a more detailed update at our full year results in August.”