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

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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