21 Oct 2009

Quarterly sales up at Woolworths

6:05 am on 21 October 2009

Woolworths says quarterly supermarket sales have jumped nearly 5% to $1.3 billion in New Zealand.

The Australian retailer attributes the increase to new store formats, a better product range, stronger sales of private label goods and improved stock levels.

It says food price inflation eased to 4.3% during the period, after jumps of over 5.5% in the previous two quarters, because of lower cost price pressures on produce, perishable and bakery items.

Overall, Woolworths says quarterly supermarket sales rose over 4% to $13.4 billion dollars. It expects sales to grow in the upper single digits in the current financial year, below last year's 13%growth.