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Woolworths Group Ltd ( (AU:WOW) ) has provided an update.
Woolworths Group Ltd reported a 2.7% increase in total first-quarter sales, reaching $18.5 billion, despite performance being below expectations. The company saw growth in Australian Food sales by 2.1% and a significant 13.2% rise in eCommerce sales, driven by customer demand for convenience. New Zealand Food sales also showed improvement, with a 3.2% increase. Woolworths is optimistic about the upcoming festive season, with plans to enhance customer experience and product offerings, although it acknowledges that the full impact of its strategic actions will take time to materialize.
The most recent analyst rating on (AU:WOW) stock is a Hold with a A$30.00 price target. To see the full list of analyst forecasts on Woolworths Group Ltd stock, see the AU:WOW Stock Forecast page.
More about Woolworths Group Ltd
Woolworths Group Ltd is a major player in the retail industry, primarily focusing on food and grocery products. The company operates in both Australia and New Zealand, offering services through various channels including physical stores and eCommerce platforms. Woolworths also engages in business-to-business (B2B) operations and has a presence in the clothing sector through its BIG W stores.
Average Trading Volume: 3,376,873
Technical Sentiment Signal: Sell
Current Market Cap: A$32.5B
For detailed information about WOW stock, go to TipRanks’ Stock Analysis page.