Woolworths sales slow as plastic bags are banned

Company News

by Rachael Jones

Woolworths' (ASX:WOW) supermarket sales growth slowed to its lowest rate in two years last quarter after its plastic bag ban.

The supermarket saw comparable sales growth of 1.8 per cent in the 14 weeks to September 30, for the same period last year – a 4.9 per cent growth was seen.

CEO Brad Banducci agreed it was a challenging quarter for sales, but said customer and brand metrics were strong across the group.

The figures were impacted by stopping the use of plastic carrier bags, and also competitor Coles implementing their miniature plastic toy products giveaway.

Shares in Woolworths' (ASX:WOW) are trading 1.34 per cent higher to $28.81.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.