Woolworths posts $1.14bn profit in cost-of-living crisis - but CEO says it’s not thanks to rising shelf prices
CEO claims more customers buying more led to $175m surge in net profit as Ooshies craze boosts sales Woolworths has reported a $175m surge in net profit to $1.14bn, with profit margins rising and the Ooshies toys promotion boosting sales.
The company’s market value surged $2bn and briefly exceeded $50bn, its highest value since 2021, as investors bought in after it reported annual results on Wednesday.
Continue reading...
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.theguardian.com — the content belongs to The Guardian Australia - Australia News.
