Woolworths Limited
(ASX:WOW) has announced Q1 of FY17 has delivered a 0.7 percent boost on same store sales compared to the previous year.
The business has attributed the increase to an improvement in both transaction and item growth.
However Woolworths’ price reduction strategy to lure new customers has seen average prices drop by 2.8 percent across the board.
The company ended the quarter with 991 supermarkets across the country, while its premium Thomas Dux brand saw one location closed, leaving the group with 4 remaining operational sites.
Woolworths Limited posted a net loss of at $2.35 billion at 30 June 2016.
