WOW Bashers - Read and weep Woolworths' same-store supermarket...

WOW Bashers - Read and weep

Woolworths' same-store supermarket sales rise 0.7pc

New Woolworths CEO Brad Banducci's turnaround strategy is finally winning back customers. Peter
by Sue Mitchell

Woolworths' same-store supermarket sales rose a better than expected 0.7 per cent in the  September quarter, the first growth since 2015, as lower prices lured customers back to stores.

The sales result beat market forecasts, which ranged between 0.1 per cent and 0.5 per cent, and compared with a 1.1 per cent fall in same-store food sales in the June quarter 2016 and a 1.6 per cent decline in the September quarter 2016.

The same-store sales growth was driven by improved transactions, which rose 2.5 per cent, and item growth of 0.5 per cent.

Woolworths said on Friday that total food sales in Australia rose 1.7 per cent to $9.3 billion in the 14 weeks ending October 2.

The retailer is still losing market share, as the market is estimated to have grown about 2.5 per cent in the quarter.