Australian retailer Woolworths Group ends FY21 with sales of $67 bn

Lynn Imbier

Woolworths Group, an Australian retail organization, has posted five.7 for every cent revenue increase to $67.three billion (Australian dollar) in fiscal 2021 finished on June 27, 2021, as opposed to the revenue of $sixty three.7 billion in the previous fiscal. Sales from the company’s Major W subsidiary retailing apparel rose […]

Woolworths Group, an Australian retail organization, has posted five.7 for every cent revenue increase
to $67.three billion (Australian dollar) in fiscal 2021 finished on June 27, 2021, as opposed
to the revenue of $sixty three.7 billion in the previous fiscal. Sales from the company’s
Major W subsidiary retailing apparel rose eleven.6 for every cent to $4.6 billion (FY20: $4.one
billion).

 

“FY21 was a substantial calendar year in the history of Woolworths Group and just one we
can search back on proudly. We farewelled our Endeavour Group colleagues at the conclusion
of June subsequent a multi-calendar year journey to different the business,”
Brad Banducci, Woolworths Group CEO
, stated in a press release.

 

Woolworths Group, an Australian retail organization, has posted five.7 for every cent revenue increase
to $67.three billion (Australian dollar) in fiscal 2021 finished on June 27, 2021, as opposed
to the revenue of $sixty three.7 billion in the previous fiscal. Sales from the firm’s Major
W subsidiary retailing apparel rose eleven.6 for every cent to $4.6 billion (FY20: $4.one billion).

The company’s earnings right before curiosity and tax (EBIT) surged 13.7 for every cent
to $three.6 billion ($three.two billion).

 

“BIG W experienced a different fantastic calendar year with enhanced shopper scores and potent
revenue and EBIT progress. Immediately after revenue progress of 20.one for every cent in H1, progress moderated
in H2 but remained positive at two.three for every cent, inspite of the damaging impression of lockdowns
in the 50 %. EBIT increased by more than three hundred for every cent in the calendar year to $172 million,”
Banducci continued.

 

Through the calendar year, Major W shut a few shops as portion of its ongoing home network
overview, with whole retail store quantities achieving 176.

 

“BIG W revenue declined fifteen.one for every cent for the first eight weeks of FY22 owing
to the impression of lockdowns and cycling revenue progress of 21.one for every cent in the prior
calendar year. In FY22 to day, 141 shops have skilled buying and selling restrictions at some
issue, equating to roughly two,seven-hundred trade days impacted throughout the business.
We are actively running our apparel stock concentrations and have commenced earlier than
prepared clearance action to proactively control our inventory posture,”
Banducci stated in the release.

Fibre2Fashion News Desk (JL)

Next Post

Canadian firm Lululemon Athletica chalks up $1.5 bn in sales

Lululemon Athletica, a Canadian nutritious way of life impressed athletic apparel company for yoga and sweaty pursuits, reported sixty one for every cent profits expansion to $one.five billion in the 2nd quarter (Q2) of FY21 finished on August one, 2021, around corresponding time period of past fiscal. Internet cash flow […]