this post was submitted on 23 Aug 2023

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Woolworths' NZ earnings fall 21%... (www.stuff.co.nz)

submitted 1 year ago by luthis to c/newzealand

13 comments fedilink hide all child comments

...And I'm taking partial credit for that. No need to thank me, just keep shopping elsewhere. Everyone keep doing your part.

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[–] Dave 6 points 1 year ago (7 children)

Where does the 21% drop in earnings in the title come from? The article says sales increased 4.6%

[–] Ilovethebomb 3 points 1 year ago (4 children)

Woolworths said its New Zealand profit had been impacted by significant cost inflation despite increasing its sales.

Turnover is up, profit down, by the sound of it.

[–] murl 3 points 1 year ago (1 children)

I wonder if some of those cost increases are boosting the Australian parent's revenues? I've seen some house branded stuff go up in price significantly compared to competing products.

[–] Ilovethebomb 1 points 1 year ago

Almost certainly, although revenue does not mean profit.

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