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BRIEF-Woolworths Group Posts Q3 Australian Food Sales Of $11,171 Mln

Published 30/04/2020, 08:54 am
© Reuters.
WOW
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April 30 (Reuters) - Woolworths Group Ltd WOW.AX :

* Q3 AUSTRALIAN FOOD SALES $11,171 MILLION VERSUS $10,033 MILLION

* Q3 AUSTRALIAN FOOD COMPARABLE SALES GROWTH OF 10.3%

* QTRLY TOTAL SALES FROM CONTINUING OPERATIONS $16,495 MILLION VERSUS $14,898 MILLION

* AUSTRALIAN FOOD SALES GROWTH IN FIRST 3 WEEKS OF APRIL IN MID-SINGLE DIGITS WITH DRINKS SALES GROWTH BROADLY BACK TO PRE- COVID-19 LEVELS

* LOOKING FORWARD TO Q4, A NUMBER OF COSTS ARE EXPECTED TO CONTINUE FOR REST OF QUARTER

* HOTELS WILL MAKE A LOSS BEFORE INTEREST AND TAX OF $30 - $35 MILLION PER MONTH (INCLUDING MARCH) WHILE BUSINESS REMAINS CLOSED

* IN Q4, INCREMENTAL COSTS EXPECTED TO BE IN RANGE OF $220 - $275 MILLION FOR GROUP (EXCLUDING HOTELS)

* IN SECOND HALF, BIG W WILL ALSO BE IMPACTED BY INCREMENTAL COSTS DUE TO COVID-19 AND HIGHER ONLINE FULFILMENT COSTS

* BASED ON CURRENT FORECASTS, BIG W IS EXPECTED TO STILL MAKE A SMALL PROFIT FOR F20 (POST-AASB 16)

* "RAPID INCREASE IN DEMAND FOR ECOMMERCE SERVICES, RESULTED IN SIGNIFICANT DISRUPTION TO GROUP'S ONLINE BUSINESSES DURING MARCH AND APRIL"

* "DUE TO SUDDEN & UNPRECEDENTED INCREASE IN DEMAND, FOOD BUSINESSES IN PARTICULAR, WERE IMPACTED BY ACUTE PRODUCT SHORTAGES IN SOME AREAS"

* SALES GROWTH CONTINUED IN APRIL ALTHOUGH GROWTH RATES HAVE MODERATED RELATIVE TO MARCH

* "LAST FOUR MONTHS HAVE BEEN ONE OF MOST CHALLENGING PERIODS IN HISTORY OF WOOLWORTHS"

* FURTHER PARTIAL PAYMENTS WERE MADE TO AFFECTED SALARIED STORE TEAM MEMBERS IN WOOLWORTHS SUPERMARKETS, METRO AND BWS

* BIG W SALARIED STORE TEAM MEMBERS ARE EXPECTED TO RECEIVE PAYMENTS IN EARLY MAY

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