Woolworths downbeat on consumer outlook
Woolworths Ltd lowered its full-year sales outlook last friday in the face of food deflation and weakening consumer sentiment, despite posting a 4.7% increase in third-quarter sales.For the three months to 4 April, Woolworths said total sales increased to A$12.91bn, up from $12.33bn last year. Excluding fuel, sales gained 3.8%, the company added.
The group reiterated its full-year guidance for profit growth in a range of 8-11%.
However, Woolworths said that food deflation and the cycling of last year’s government economic stimulus package would dent sales growth. Woolworths lowered its revenue target from upper single digit growth to a 3-6% range.
just-food is the world’s leading portal for the global pre-packaged food and retail industries. Its daily mix of breaking news, views, analysis and research serves over 100,000 food executives each month. http://www.just-food.com/
Murray Goulburn will cut 70 jobs across its Victorian factories.
Rhiannon Druce, family-owned since 1918, from Junee Licorice and Chocolate Factory can give some am...
SPC has today announced the sale of the Kyabram factory and the iconic brands of IXL jam and Taylor...
The New South Wales container deposit scheme has already seen the return of more than 50 million dri...
Monday 1st April, 2019: It’s 4pm, the kids come racing through the doors, school bags thrown down an...
Australian Primary Hemp Pty Ltd is raising capital to meet Australia’s demand for the newly legalis...
With 1 in 70 Australians diagnosed with coeliac disease and 14% reporting a sensitivity to gluten, ...
A picture speaks a thousand words but can also help sales soar for food produces, cafes and restaura...