Joint Statement by Baillieu Limited Chairperson David Trude and Managing Director Gavin Powell

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Woolworths (WOW) | 3Q20 sales strong; but warns of elevated costs and Hotel losses

Australian Food: Supermarket sales increased 11.3% to $11.2b, with comparable sales increasing 10.3%. Total sales growth was 3% for the first seven weeks of the quarter, but increased materially from late Feb / early March, peaking in the week ending 22 March with growth of over 40%. Own brand sales performed strongly with double-digit growth in the quarter. Average prices increased by 2.1% in the quarter, with increases across many Fresh categories and Grocery.

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