FMCG giant Woolworths has posted its strongest sales growth in seven years- with sales rising 4.5 per cent in the March quarter, according to a report in the Australian Financial Review (AFR).
This figure was well above market forecasts between 3.2 per cent and 3.6 per cent and compared is the strongest quarter for Woolworths supermarkets since the first quarter 2010.
According to Woolworths chief executive Brad Banducci, “We are pleased with the continued improvement in Australian food sales in the third quarter, particularly the more stable and predictable nature of our daily and weekly sales,” he said.
Banducci also said that he wanted to build on this figure well into the next financial year.
“We are focused on making sure we continue our progress in rebuilding sustainable sales momentum for the remainder of 2017 and into 2018,” he told the AFR.