Woolies' joy as targets are met

Woolworths has upped availability targets, following the introduction of new systems.

Chief executive Trevor Bish-Jones said Woolies has hit 92 per cent on-shelf availability and now aims for 95 per cent.

The retailer will have installed the Kingstore system in 318 shops by the end of this year.

Separately, Woolies has cut 50 head office jobs in the past six months to deliver cost savings.

On Wednesday, Woolies posted interim sales up 1.7 per cent to£1.07 billion.

Pre-tax losses fell by 12 per cent to£34.9 million.