Woolies Web Sales ‘To Hit $1bn’ FY14
Woolworths say they are ” on track” to record $1bn online sale in FY 14.
The retail giant today announced Q1 2014 sales were up 3% to $15.7 bn, in the 14 weeks to October 6.
This growth spurt was underpinned by growth in food and liquor – up 4.5%, said Woolworth’s CEO Grant O Brien, with the first quarter a “pleasing start to the year”.
Woolies reported a “solid result” despite weak trading hit by price deflation and poor customer sentiment.
Big W sales fell 3.6% to $1.1 bn, blamed on differences in timing of the Toy sale and ongoing price deflation of 4.1%, particularly in Home Entertainment. Comparable stores sales fell 3.2%.
Big W categories including Home, which includes small appliances, Womenswear, Toys all delivered “pleasing sales” during the quarter, said Julie Caotes, Big W Director.
However, there was no mention of Electronics.
“We have commenced the strategic repositioning of Big W to drive profitable growth, in categories that are core to our consumer, which had an effect on sales during the quarter”, said O Brien.
Home improvements sales were up 28%, with Masters store rollout “on track”.
Woolie also completed the acquisition of Ezibuy etailer during the quarter.