The retailer says business operations were disrupted by congestion at the ports, the impact of taxi strikes and Avian flu in the first half of the financial year.
Woolworths’ Food sales have went up, but Fashion, Beauty and Home sales have went down. Picture: Supplied.
Woolworths’ CEO, Roy Bagattini said SA’s turnover growth is at 6.7% and operating profit growth of 5.9%, above inflation. He describes these results as “solid”.sales decrease in FBH. The turnover and concession sales for the six months declined by 0.4%, with comparable store sales decreasing by 1.3%.
“Turnover and concession sales grew by 9.0% for the 52-week comparable period and by 6.9% on a comparable store basis.” It was significantly evident in Australia, as sustained interest rate increases and higher costs of living continued to impact consumer confidence, footfall and spending. “However, the elevated interest rates continue to pose headwinds to consumer demand. The same is true for Australia, with the pace of macro recovery likely to prove more protracted than initially envisaged.”
He was a member of the board and Nominations Committee, and chairman of the Remuneration and the Risk, Information and Technology Committees. To replace him as the chairman of the Risk, Information and Technology Committee will be Rob Collins.
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