Variety retailer blames store refurbs
Variety retailer Woolworths said trading conditions 'remain difficult', as it revealed a like-for-like sales decline of 6.7 per cent for the 19 weeks to June 10. Total group sales decreased 0.4 per cent.

The troubled chain said it expected the retail environment to continue to be challenging, with the World Cup significantly reducing footfall on the high street.

In today's AGM statement, the group said they were working to achieve a more efficient supply chain - aiming to reduce overall stock levels and drive up margins.

The group attributed 0.5 per cent of the like-for-like drop to the closure of 54 stores for refurbishment for periods during the 19 weeks. Sales post-refit are said to have been 'encouraging'. A similar number of refurbishments are scheduled for the remainder of the year.

Across the summer period the group will focus on developing its multichannel capability ahead of Christmas and completing this year's store refurbishment programme.

Sales at Woolworths' wholesale entertainment distribution arm Entertainment UK (EUK) were up 21.1 per cent. EUK is continuing to look for new business partners, after it lost a contract to supply Tesco with DVDs, music and games products in March.