Woolies toughs it out
Woolworths trading statement shows cumulative total group sales are down 3.1 per cent.
Woolworths like-for-like sales decreased by 7.7%. 70 stores have undergone their 10/10 refits and the refitted stores continue to deliver solid sales gains and by Christmas over 100 stores will have been refitted. In August Woolworths will start to market new services enabling their online and in-store customers to specify either home delivery or in-store collection from over 250,000 products. Other inititaives to maximise customer service include 92 stores which are currently being upgraded to build on Ladybird’s brand authority through delivery of a Ladybird ‘shop within a shop’ concept.
Third party sales at EUK for the 25 week period were up 10.7%. EUK continues to seek new customers to replace the Tesco business, which ceases in April 2007 and to broaden the scope of its capabilities. Sales at 2entertain, the Group’s 40% owned Joint Venture with BBC Worldwide, were up 5.3%.
Commenting on the results Trevor Bish-Jones, Chief Executive said ‘This performance shows that for us the current retail environment remains challenging. Against that backdrop we continue to improve the business by investing in the store base, rapidly enhancing our multichannel capability and driving efficiencies through our supply chain’.
