29 days ago
Money Morning Australia -
Woolworths rose 1% in shares, overlapping Coles as its competitor moved in the other direction overnight. Woolworths enjoyed rising earnings and profit in the half year but warned of further challenges to come. Supermarket heavyweight Woolworths Group [ASX:WOW] has followed competitor Coles Group [ASX:COL] in announcing its half-year results. Woolworths’ food sales increased 2.4%, despite a decline of 7.5% in e-commerce sales as more consumers opted for shopping in store. Food-related inflation continued to rise in the half, applying cost pressure across the industry as well as for customers already facing cost-of-living pressures.
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