Woolworths Limited
(ASX:WOW) has reported softer than expected sales growth over the first quarter of the 2015 financial year.
The retailing giant increased total sales by 3 per cent to $16.15 billion in the 14 weeks to October 5.
Excluding petrol first quarter sales rose 4.1 per cent while food and liquor sales rose 3.9 per cent.
CEO Grant O'Brien says trading was softer in August and September due to the timing of promotional activities and the cycling of higher fuel discount activity.
Mr O'Brien believes Woolies is confident its trading plans will improve momentum in the second quarter which includes the key Christmas period.
Woolworths reported a net profit of $2.45 billion in the full 2014 financial year.
