Published: 30 October 2023
Woolworths 1Q24 sales revealed good growth in its Australian Food division but weak results in NZ and Big W. Woolworths Food division is the driver of group earnings and valuation and is likely to see a further moderation in sales trends over the next year. There is a risk that the positive mix effect on sales unwinds as consumers react to higher prices and income growth is squeezed.
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