Like-for-like sales down
Woolworths Group's trading for the 24 weeks to July 16 was poor, with a 4.4 per cent fall in like-for-like sales. The retailer said gross margins were also down on last year.
The store refurbishment programme is on track, with plans to convert 50 stores to the 10/10 format this year. The retailer said the sales and margin performance at converted stores are ahead of its main stores.
Sales from the retailer's Entertainment UK business, which supplies retailers such as Tesco, among others, were up 16.1 per cent.
Woolworths Group chief executive Trevor Bish-Jones said: 'The retail environment remains challenging and against this background we continue to be disciplined about controlling costs and stock, while taking action to improve the group's business.'
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