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woolworths reiterates guidance, sees “frugalism” as defining feature of shoppers
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australia’s largest supermarket retailer, woolworths, has today told shareholders that they remain on track to meet their targets this year as changes to consumer behaviour continue to assist their supermarket operations. the retailer, which is set to celebrate its 85th birthday next week, reaped a record profit result last year of $1.8 billion after tax and expects this to climb as much as 11 per cent in the current financial year. “whilst we have started the 2010 financial year optimistically, there are still a number of uncertainties facing the economy, such as rising interest rates,” chief executive michael luscombe informed shareholders at their annual general meeting. “subject to this uncertainty, woolworths reconfirms its guidance as follows: sales for 2010 are expected to grow in the upper single digits … (and) net profit after tax is expected to grow in the range of 8% to 11%. consumer behaviour shift boosts private label mr luscombe said that consumer trends that saw increased focus on price had assisted them in two ways: by attracting more people to their private label products; and, by drawing more people to the supermarket and away from the restaurant. “we witnessed marked changes in consumer behaviour and shopping trends as people sought to make their household budgets stretch further,” he advised. “private label thrived as customers switched to products that offered the same quality as brands but for a lower price.” “our supermarket and liquor businesses captured spending that would otherwise have gone to restaurants.” mr luscombe said that, despite the improvements in the economy, ‘frugalism’ remained the “defining feature of the australian consumer”. loyalty joint venture meeting expectations woolworths advised that their joint venture loyalty program with qantas was performing very well, with 1.6 million people (out of the 4.2 million everyday rewards cardholders) linked up to receive frequent flyer points when they shop. “this program has enormous potential for our business,” mr luscombe maintained. “not only is it increasing sales but its also vastly increasing our knowledge about our customers in a way that will help us to continually improve our services and ranging.” acquisitions the retailer indicated that they would still actively pursue acquisitions if deemed suitable, although large purchases appear unlikely given the funds they will be directing toward their new hardware business. woolworths has been quite active in the m&a sector this year, with purchases of langton’s, macro and a share in gage roads brewery - all of which have gone to plan, mr luscombe suggested. “the acquisition of langton’s during the year has boosted our premium wine offer in our liquor business,” he noted. “the recent purchase of a 25% stake in gage road brewery has positioned us well to continue to increase our private label offer in liquor.” “the acquisition from macro wholefoods of seven existing store leases and a development site has accelerated the expansion of the thomas dux format in sydney and melbourne. thomas dux now has 10 stores in operation and continues to be well supported by customers.” mr luscombe added that macro private label products will be progressively rolled out throughout their network over the course of the year. their network, meanwhile, continues to be developed, with 43% of stores having now been updated to the ‘2010 format’. -->
Source :ausfoodnews.com.au
Date :
26
November
2009
Category :
Rest
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demand for caged eggs is waning and australia’s largest supermarket chain is reportedly planning to cut the number of brands in the category as a result. woolworths has denied reports they will rid their stores of all caged eggs, but they will separate their eggs more clearly, reduce the number of caged brands and phase out their own woolworths select caged egg brand that accounts for around 5 per cent of sales.
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a new private member’s bill to be tabled this week to australian parliament would, if passed, require australia’s major supermarkets to reveal what percentage of the retail price of their fresh produce goes to the farmers. the farm gate pricing bill, drafted by independent senator nick xenophon and house of representatives independent bob katter, would need the support of a major party, in order to be passed.
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woolworths’ everyday rewards scheme has helped boost sales at australia’s largest supermarket chain, according to its chief executive. michael luscombe, speaking at a corporate breakfast earlier this week, said that ever since the tie-up with qantas began - which sees their customers receive frequent flyer points - the spend per customer at their supermarkets has risen. “we got a lift in our basket size almost overnight,” he said, according to the australian.
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wesfarmers has announced a net profit after tax of $1.535 billion - up 44 per cent - as their coles turnaround gathers momentum. the wa-based conglomerate, owner of the bunnings and coles group stores as well as coal and fertiliser assets, said that their supermarket chain had met expectations with increasing customer numbers and basket growth. managing director, richard goyder, believed the result was strong given the economic conditions that confronted the group throughout the year.
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woolworths is planning to expand their thomas dux grocer brand to the city of adelaide as part of a national rollout, according to newspaper reports. the upmarket grocery subsidiary of australia’s largest supermarket chain was launched in sydney last year. it expanded beyond australia’s most populous city for the first time this year via the purchase of macro wholefoods; which will see them top up their network with five melbourne stores and a doubling of the 3 in nsw.
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\"we are waiting for bidding details from carrefour,\" berli managing director asavin techacharoenvikun told reporters. carrefour wants to sell its southeast asian units in malaysia, singapore and thailand to help it focus on core markets where it holds leading positions. carrefour was not available for comment on the deal. over the past few years, carrefour has withdrawn from other asian markets, including japan and south korea, to focus on growing markets such as china and india.
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the appointment of long-time asda executive andy clarke as chief executive of the supermarket operator suggests that us parent wal-mart is seeking strategic continuity at its uk arm, despite recent admissions that the company’s sales growth is falling below expectations. katy humphries reports.wal-mart announced yesterday (11 may) that it has promoted andy clarke to the post of president and chief executive officer, effective immediately.
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minister for trade simon crean today announced the make-up of the business advisory panel to the building brand australia project, with two the country’s leading players in the fmcg sector joining forces. michael luscombe, ceo of woolworths - the nation’s largest supermarket chain and rob murray, chief executive of dairy, juice and alcohol group lion nathan national foods, will be on a six-member board to be chaired by eminent businessman david mortimer.
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australia’s largest supermarket operator has again posted strong sales growth in the first quarter and has reiterated its forecast for the full year. food and liquor sales again led the way, rising 7.8 per cent, or 5.8 per cent on a comparable store sales basis, while the group’s overall sales growth reached 4.2 per cent - hurt considerably by lower petrol prices (7.4% ex. petrol). food inflation was a more restrained 2.
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Coca.Cola
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PEPSI
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Mcdonald
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