Progressive NZ sales up 4.5pc for half

Australian-listed retailer Woolworths yesterday reported A$31.1 billion ($39.63 billion) in sales for the half year to January, including $2.86 billion from its New Zealand supermarkets.

In the 27 weeks to January 3, Woolworths made a total of A$24.4 billion in sales. Sales from its New Zealand supermarkets, operating as Progressive Enterprises, were an increase of 4.5 per cent over the previous half's A$2.57 billion.

The company operates the Woolworths, Countdown, Foodtown and Fresh Choice supermarkets in New Zealand, as well as the Dick Smith electronics store chain.

The Dick Smith stores' sales in New Zealand fell 2.1 per cent from the preceding half year, from A$191 million in 2009 to A$187 million in 2010, though still making an increase of 6.1 per cent on the year before. The company noted "pleasing results" in its computing, entertainment and gaming sectors in the electronic stores.

"In New Zealand, our supermarket business grew strongly despite the economic climate, reflecting our investment in price, product, stores and systems," the company's chief executive, Michael Luscombe said.

- NZPA