Woolworths has reported that group sales jumped 7.5 per cent through the fourth quarter of the financial year, up to A$49.6bn (US$40.6bn), as Australian retailers continued to reap the benefits of a strong economy in the face of a worldwide recession.
Results for the three-month period were boosted by strong food and drink sales in Australia, which increased 7.9 per cent on a year-on-year basis, attributed by the group to lower prices, improved store layouts and the rewards programme.
Sales at the group's New Zealand operations increased by 5.5 per cent, boosted by store refurbishments and a more solid supply chain, Reuters reported.
Meanwhile, the group's Big W discount operation reported like-for-like sales growth of 11.5 per cent during the fourth quarter, bolstered by government cash handouts to support consumer spending.
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