Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Woolworths’ NZ supermarket sales barely budge in 3rd qtr

Woolworths’ NZ supermarket sales barely budge in 3rd qtr in face of ‘subdued, competitive’ market

April 30 (BusinessDesk) – Woolworths, Australia’s biggest supermarket operator, said third quarter sales barely budged at its Countdown chain in New Zealand, in the face of a subdued, highly competitive market.

New Zealand supermarket sales edged up 0.1 percent to $1.4 billion in the 13 weeks ended April 6, the Sydney-based retailer said in a statement. The strength of the kiwi dollar meant sales rose 16 percent in Australian dollars.

The 167 Countdown supermarkets compete with larger rival Foodstuffs, made up of two regional cooperatives which have 139 New World stores, 50 PAK’nSave outlets, 283 Four Square outlets, liquor stores and wholesaling. Foodstuffs had annual sales of $8.6 billion in 2013, while Countdown’s are running at an annualised $5.6 billion.

“Trading for the quarter was impacted by subdued grocery market conditions, a highly competitive marketplace and price deflation across a number of categories,” said Dave Chambers, managing director of Woolworths’ New Zealand supermarkets division.

Countdown is being investigated by the Commerce Commission following allegations from Labour MP Shane Jones that it engaged in anti-competitive behaviour over the treatment of local suppliers. Jones is leaving parliament after accepting a South Pacific economic advisory job for the government. Woolworths made no mention of the allegations in its quarterly results.

The parent company reported a 5.3 percent gain in third quarter sales to A$15.2 billion, led by a 4.4 percent gain to A$10.4 billion for Australian food and liquor.

Woolworths stock fell 2.6 percent to A$37.05 on the ASX and has gained 12 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news