Countdown supermarkets 1H earnings dip as digital investment continues

Countdown supermarkets 1H earnings dip as digital investment continues
Paul McBeth
By Paul McBeth Feb. 20 (BusinessDesk) - Woolworths' New Zealand Countdown supermarkets posted a 2 percent decline in first-half earnings as the national chain continued investing to improve its digital capabilities.  Earnings before interest and tax fell to $148 million in the 27 weeks ended Dec. 30, from $151 million a year earlier. While sales were up 1.9 percent at $3.4 billion, the firm's cost of doing business ratio increased to 19.9 percent of revenue, from 19.5 percent a year earlier.  That implies operating costs rose to $676.8...