Total first half sales for Woolworths Limited
(ASX:WOW) rose five per cent to $29.7 billion.
Despite the supermarket giant facing subdued consumer confidence and falling prices, it says its supermarket division sales were up 5.6 per cent on the previous quarter, and home improvement division sales were up 16.4 per cent.
Chief executive Grant O'Brien says the first half result was solid considering the ongoing headwinds facing the retail sector.
Woolies also plans to accelerate the restructure of Dick Smith. It says the consumer electronics brand will be divested to an appropriate buyer.
Woolworths generated a net profit $2.1 billion in the 2011 financial year.
