Woolworths blitzed rival Coles in the third quarter, increasing overall sales and making big progress on growing the online grocery business.
Overall sales of $15.2 billion for the three months to the end of March was an increase of 5.3% on the previous year or 5.9% after adjusting for the impact of Easter.
Woolworths Australian Food and Liquor sales were $10.4 billion, a rise of 4.4% on the previous year or 5.1% Easter adjusted
Coles reported a sales rise of 3.9% to $6.7 billion for its supermarket and liquor business. And the only mention of online sales was for its OfficeWorks business.
Woolworths, however, reported online sales increased by more than half.
“Online sales increased by more than 50%, reinforcing our multi-option leadership in Australian food and liquor,” says CEO Grant O’Brien.
“Click and Collect sales across the group increased by more than 100% as we build stronger platforms to give customers additional choice in how they choose to shop with us.
“We expanded our network, adding an additional 29 sites across our portfolio during the quarter and are on target to meet our projection of creating almost 7,000 new jobs in financial year 2014.”
Woolworths Big W business was hit by strong competition with sales for the third quarter at $0.9 billion, a decrease of 3.8% on the previous year or 1.1% Easter adjusted.
A short time ago, Woolworths shares were down 2.26% to $37.18.