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

 

Research: ‘Ageing Well’ Science Challenge Launched

Science and Innovation Minister Steven Joyce today launched the Ageing Well National Science Challenge, confirming initial funding of $14.6 million. More>>

ALSO:

Scoop Business: Govt Resisting Pressure To Pump More Cash Into Solid Energy

Prime Minister John Key says it is “not the government’s preferred option” to make a fresh capital injection into the troubled state-owned coal miner, Solid Energy, but dodged journalists’ questions at his weekly press conference on whether that might prove necessary... More>>

ALSO:

Lagest Ever Privacy Breach Award: NZCU Baywide Accepts “Severe” Censure In Cake Case

NZCU Baywide says that once it was found to have committed a breach of a former staff member’s privacy, it had attempted to resolve the matter... the censure and remedies for its actions taken almost three years ago are “severe” but accepted, and will hopefully draw a line under the matter. More>>

ALSO:

Scoop Business: PayPal Stops Processing Mega Payments; NZX Listing Still On

PayPal has ceased processing payments for Mega, the file storage and encryption firm looking to join the New Zealand stock market via a reverse listing of TRS Investments, amid claims it is not a legitimate cloud storage service. More>>

ALSO:

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news