Retail giant Woolworths Limited
(ASX:WOW) has increased its third quarter sales from continuing operations by 5.3 per cent to $15.19 billion.
The result was achieved with stronger growth from its food and liquor in Australia and New Zealand which grew 4.4 per cent while comparable sales were up just 3.5 per cent.
The company’s home improvement business Masters posted a 40 per cent jump in sales while BIG W sales were impacted by strong competition, promotions and price deflation.
CEO Grant O'Brien says Woolies added an extra 29 sites across its portfolio while online sales increased by more than 50 per cent over the quarter.
Woolworths boosted its net profit by 6 per cent to $1.33 billion in the first half of the 2014 financial year.
