Countdown shifts more business online as annual earnings edge up

Thu, 29 Aug 2019

By Paul McBeth Aug. 29 (BusinessDesk) - Woolworths' New Zealand Countdown supermarkets eked out a small gain in annual earnings as it sold a greater volume of goods at lower prices. The local unit of the Australian retailer reported earnings before interest and tax of $296 million in the 53 weeks ended June 30, up an adjusted 1 percent from the 52-week period a year earlier. Sales rose 2.4 percent on an adjusted basis to $6.71 billion. Countdown's volume of comparable transactions rose in each of the retailer's New Zealand quarters o...

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