Little Toy bonanza: Woolworths falls behind Coles as sales growth hits two-year low


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Woolworths’ supermarket sales growth slowed to its lowest rate in two years last quarter after its plastic bag ban and Coles’ wildly popular Little Shop toy give away sent shoppers flocking to its major competitor.


The supermarket on Thursday revealed comparable sales growth of 1.8 per cent in the 14 weeks to September 30, down from 4.9 per cent growth in the same period a year ago.


Woolworths' sales grew at their slowest rate in two years.

Woolworths’ sales grew at their slowest rate in two years. Credit:Patrick Scala


Rival retailer Coles last month reported comparable sales growth of 5.1 per cent for the quarter, marking the first time that Coles has out-performed Woolworths in two years.


“Australian Food had a challenging start to the quarter with sales impacted by our customers’ and team’s adjustment to the removal of single-use plastic bags as well as the impact of a competitor continuity program,” Woolworths said in a statement.


Coles’ owner Wesfarmers is preparing to demerge the supermarket later this month and list it as a separate company on the ASX.


More to come 


Article source: http://www.espncricinfo.com/australia/content/story/1116545.html?CMP=OTC-RSS

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