Woolworths Share Price Grows from Strong Sales

Woolworths [ASX:WOW] sales figures grew throughout the third quarter.

Today, their shares rose by 2.22% alongside their food sales, which grew by almost 5%

Woolworths have managed to outperform Coles in a short period of time.

Their increased customer service is helping innovation and key profit growth take place within the business.

Their shares are valued at $28.57.

Supply chains reporting strong figures

Woolworths have had most of their ventures turnover strong growth figures.

Food sales grew by 4.7% while Big W and Hotel sales also grew by over 3%.

Its locational stores increased sales by 4.4% too.

The Easter period contributed to the surge in sales, increasing by 3.4% during the period.

But it wasn’t just the busy period that helped Woolworths. Management have also been working hard on improving the company’s overall customer satisfaction.

Last year, Woolworths increased its customer’s satisfaction by a total of 81%.

Reduced prices also contributed to sales.

BWS and Dan Murphy’s saw sales figures rise after adjusting for the Easter period.

Online sales contributed to 20% of its growth.

Rask media reported that Woolworths CEO, Brad Banducci stated:

We are pleased with the progress we are continuing to make against our key priorities as we pivot from turnaround to transformation. We remain energised by the number of opportunities we see to continue to improve our business.

Woolworths’ transformation consists of improving its customer service, while growing the online platform and opening a new front in sales prospects.

They are aiming to further grow and improve its digital experience overtime.

Regards,

Ryan Clarkson-Ledward,
For Money Morning

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Ryan Clarkson-Ledward is an Editor at Money Morning.

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