Woolworths pulls in $51bn in sales


Supermarket juggernaut Woolworths recorded $51.7 billion in sales last financial year – a 4.2 percent increase

By Brad Gardner | July 21, 2010

Supermarket giant Woolworths continues to increase its stranglehold on the retail market, announcing a 4.2 percent increase in sales to $51.7 billion last financial year.

Woolworths today released its full year sales results to June 27 this year, with its supermarket division responsible for the largest share of the multi-billion dollar sales figure. The division increased its sales from $42.4 billion to $44.2 billion.

The 4.2 percent increase across the board represents a $2.1 billion increase in sales.

Woolworths CEO Michael Luscombe says he is pleased by the figures in what has been a challenging year for the retail sector.

"Our business-wide strategy to deliver optimum value for our customers has resulted in solid sales at a time when consumers are doing it tough and tightening the purse strings," Luscombe says.

Woolworths also expanded its presence in the fuel market by opening another 20 petrol stations to increase its share to 561 by the end of the financial year.

While sales from petrol reaped $5.5 billion for Woolworths, sales compared to last year declined by 1.7 percent.

Woolworths has also benefited from its partnership with TATA in India that services 50 retail stores.

The company says the partnership produced sales of $252 million last financial year compared to $187 million the year before.

"As part of this venture Woolworths Limited provides buying, wholesale, supply chain and general consulting services to TATA," a statement from the company says.

Woolworths also opened 157 new stores last financial year, with 44 of them coming in the final quarter of the year.


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