Countdown posts 1.1% rise in 1Q sales as new stores openings offset weaker prices

Mon, 03 Nov 2014

By Tina Morrison Nov. 3 (BusinessDesk) - Countdown, the New Zealand supermarket chain owned by Australian retailer Woolworths, increased revenue 1.1 percent in the first quarter of its financial year as it benefited from sales at new stores. Sales at New Zealand supermarkets rose to $1.5 billion in the 14 weeks ended Oct. 5, from $1.48 billion in the year earlier period, Sydney-based Woolworths said in a statement. Comparable sales for the quarter, which excludes the impact of store openings and closures, fell 0.1 percent, impacted by fla...

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