Countdown sales numbers grow with food prices in first quarter

Lower-than-inflation growth was attributed to cost-of-living pressures. (Image: Countdown)

Wed, 25 Oct 2023

Countdown food sales growth was driven by increasing prices in the first quarter of its 2024 financial year.In the quarter ending Oct 1, 2023, revenue for the local arm of the Australian grocery giant increased 2.8% to $2.064 billion, driven by inflation, while food prices increased 6.3%.This disparity was because the number of items per basket dropped 8.9% compared to the same quarter the year before.The company put this down to cost-of-living pressures, including the removal of the government fuel subsidy.The average food price increase was 2...

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