Woolworths takes advantage of Coles' wounds

As Coles begins rebuilding, after a very long auction, chief rival Woolworths has announced full-year sales from continuing operations of €26.8 billion — a 12.6% jump on the previous year.

"We are continually looking to maintain and improve our competitive position by enhancing the experience for our customers and supporting the training and development of our people," said Luscombe, Woolworth's Managing Director, Michael Luscombe, who denied any disappointment on leaving the Coles auction empty-handed. Luscombe has not indicated any future acquisition targets.

"Ongoing investment in our price rollback campaign is delivering value to our customers and assisting our growth," Luscombe added. The food division, led by Woolworth's supermarkets which added another 22 stores to the network through the year, put on 9 % in sales over the previous year.

Luscombe also praised the performance of Big W stores, which added 11.1% over the previous year with sales. Thirteen Big W stores were added to the network during the year.

(Source: Supply Chain Review)