Tuesday, April 16, 2024
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E-Commerce Aids Woolworths Through Difficult Year

Sales for the Woolworths Group have increased by over nine per cent in the last financial year, helped in no small part by its e-commerce revenue jumping by 39 per cent to $6.26bn.

CEO Brad Banducci said an “extremely challenging operating environment” had resulted in a financial performance that was below aspirations for the year, citing supply chain disruptions, product shortages, team absenteeism and flooding which had led to an “inconsistent customer experience”. However, he said he was proud of how Woolworths staff continued to care for its customers and each other and said an ongoing resilience had delivered a strong Christmas and an improved trading momentum during the second half of the year.

“I am confident that, as we enter F23 with a renewed sense of purpose, we will be able to navigate ongoing uncertainties and challenges to deliver for all of our stakeholders,” he said.