Woolworths (WOW) is primarily an Australian and New Zealand supermarket company, and is widely considered among the market’s blue chip stocks.
WOW has branched our beyond its supermarket business and has built a massive empire which boasts an array of brand retailers and a heavy sprinkling of supermarkets throughout every major city in Australia.
On 18 April, WOW reported a 5.1% increase in third quarter sales from a year earlier. The group also reaffirmed its full year guidance of 5% – 8% profit growth.
WOW said that sales were impacted by continued price deflation as well as the recent natural disasters.
The trading environment was likely to remain difficult due to a combination of lower consumer confidence, inflationary uncertainty, potential rate hikes and a stronger Australian dollar.