Woolworths NZ earnings halve despite sales gains

Woolworths NZ earnings halve despite sales gains
Woolworths says the New Zealand grocery market is "very competitive". (Image: NZME)
Gregor Thompson
Wage costs, gross margin contraction and a “very competitive market” are behind weaker earnings at Woolworths NZ, the Australian grocery chain says. Woolworths Australian said normalised earnings before interest and taxes (ebit) at Woolworths NZ – referred to as New Zealand Food – fell 57% to $108 million in the year to June 30.Normalised ebit excluded A$1.6 billion ($1.74b) of significant items, mainly related to the previously disclosed A$1.5b impairment related to Woolworths NZ. Outgoing chief executive Brad...

More Retail

Foodstuffs NI warned by ComCom over supplier treatment
Retail

Foodstuffs NI warned by ComCom over supplier treatment

It obstructed a supplier request in an unco-operative manner, says Grocery Commissioner.

Retailers say unseasonable weather compounded woes
Retail

Retailers say unseasonable weather compounded woes

The Warehouse Group and KMD Brands have both downgraded guidance in recent weeks.

Warehouse drops guidance, loss now in scope
Retail

Warehouse drops guidance, loss now in scope

The retailer has raised the possibility of a full-year earnings loss.

Gregor Thompson 01 Jul 2025
Foodstuffs serves up reuse trial with Bonson
Retail

Foodstuffs serves up reuse trial with Bonson

Most shoppers skip reusable bags so will they return deli trays?

Cécile Meier 01 Jul 2025