Blue Chip Stocks News Woolworths (WOW)

Woolworths (WOW) is primarily an Australian and New Zealand supermarket company, and is widely considered among the blue chip stocks in the Australian share market.

Woolworths 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 20 October, WOW reported a 4.1% increase in first quarter sales, to $13.9 billion.

Supermarket sales increased 3.2% in the face of a tough retail environment and low food price inflation.

Big W sales fell 2.7% amid tight consumer spending and price deflation in key categories including home entertainment and toys.

WOW shares dipped 0.3% on the day.