News: WOW Woolworths Says Impact Of Omicron Led To Strong Sales Growth For First 7 Weeks Of Year In...

Feb 23 (Reuters) -

• IMPACT OF OMICRON IN AUSTRALIA HAS LED TO STRONG SALES GROWTH FOR FIRST SEVEN WEEKS OF YEAR IN AUSTRALIAN FOOD
• EXPECT INFLATIONARY PRESSURES TO CONTINUE TO INTENSIFY DUE TO INDUSTRY-WIDE COST INCREASES
• AUSTRALIAN FOOD (WOOLWORTHS RETAIL) TOTAL SALES INCREASED BY 5% FOR FIRST SEVEN WEEKS
• Q2 AUSTRALIAN FOOD COMPARABLE SALES GROWTH 1.9%
• GROUP COVID COSTS IN FIRST SEVEN WEEKS OF YEAR WERE APPROXIMATELY A$34 MILLION
• ASSUMING A CONTINUED NORMALISATION IN OPERATING ENVIRONMENT DURING Q3, WE EXPECT AN IMPROVED GROUP FINANCIAL PERFORMANCE IN H2
• COVID-RELATED COSTS ARE LIKELY TO REMAIN ELEVATED IN Q3
• WOOLWORTHS - EXPECT COVID-RELATED COSTS MODERATE OVER COURSE OF HALF
• FOR BIG W, EXPECT A CHALLENGING HALF BUT EXPECT BUSINESS TO REPORT A PROFIT IN H2
• INDIRECT COVID COSTS IN FIRST SEVEN WEEKS OF YEAR HAVE ALSO REMAINED HIGH, MAINLY DUE TO CONTINUED END-TO-END SUPPLY CHAIN DISRUPTION

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