Woolworths Q3 Sales Up 0.4%; Says Not To Proceed With Darwin Dan Murphy's Development

Woolworths Group Limited (WOW.AX) reported that its group sales for the third-quarter slightly increased 0.4 percent to A$16.57 billion from A$16.50 billion in the prior year.

In Australian Food, total sales for the third-quarter declined by 0.7% year-over-year to A$11.09 billion, following an increase of 8.2% for the first seven weeks of the quarter.

New Zealand Food's quarterly total sales decreased by 6.9% to NZ$1.79 billion from the prior year.

BIG W's total sales in the first-quarter increased by 18.3% to A$1.02 billion.

Endeavour Drinks' total sales increased 6.3% in the quarter to A$2.39 billion.

Hotels total sales continued to improve as it began to cycle venue closures in the prior year with growth of 54.4% in the final six weeks of the quarter bringing growth for the quarter to 11.5%.

In a separate press release, Woolworths Group said it will not to proceed with Darwin Dan Murphy's development.

On 16 December 2020, Woolworths had formed an Independent Panel to consider issues associated with the development of a Dan Murphy's at Darwin Airport.

Following completion of the review this week, on 28 April the Panel's Chair, Danny Gilbert, briefed the Woolworths Group Board and Management on its findings and recommendations, including that the development should not go ahead.

The Board has supported Management's recommendation not to proceed with the development of the Dan Murphy's at Darwin Airport.

The Gilbert Review has, in addition to the core areas of focus, made a series of recommendations about a wide range of related matters, including Woolworths Group's internal and external processes and procedures.

The Board has requested Management to prepare a response addressing the recommendations. The Board intends to release both the Gilbert Review and Woolworths Group's response, no later than mid June.

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