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

 

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Immigration: Increase In Seasonal Workers For RSE

The current cap will be increased by 1,000 from 9,500 to 10,500 RSE workers for the 2016-17 season. Mr Woodhouse says the horticulture and viticulture industry is New Zealand’s fourth largest export industry, producing almost $5 billion in exports. More>>

ALSO:

Hurunui: Crown Irrigation Invests Up To $3.4m In North Canterbury

Crown Irrigation Investments will invest up to $3.4m in the Hurunui Water Project, an irrigation scheme that will be capable of irrigating up to 21,000 hectares on the south side of the Hurunui River in North Canterbury. More>>

ALSO:

Not So Great:Butterfly Eradication Success

The invasive pest great white butterfly has been eradicated from New Zealand in a world-first achievement, Primary Industries Minister Nathan Guy and Conservation Minister Maggie Barry say. More>>

Gordon Campbell: On The Government’s Tax Cuts Fixation

Long before the earthquake hit, the dodginess of the government tax cuts programnme was evident in the language of its packaging. It is being touted as a “tax cuts and family care” package... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news