28 Jan 2010

Woolworths sales rise to $1.3bn in quarter

9:42 am on 28 January 2010

Woolworths says its supermarket sales in New Zealand rose 4% to $1.37 billion in the second quarter, compared to the same period a year earlier.

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

It says growth in food price inflation slowed to 1.1% during the period, because of lower prices on certain fresh foods.

The supermarket giant lags behind rival FoodStuffs in terms of market share, but Woolworths says it has clawed back some volume and market share growth.

Overall, Australia's largest supermarket chain says quarterly sales rose 13% to $13.8 billion.

It expects sales to grow between 8% and 11% for the year, compared to a 13% increase last year.