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Woolworths sales improve

By unknown | 2009-07-24 00:00:00.0

FOOD and clothing retailer Woolworths expects a 30-40% rise in earnings a share boosted by a one-off profit and sales in the fourth quarter showed signs of recovery as a string of interest rate cuts fed into the economy.

FOOD and clothing retailer Woolworths expects a 30-40% rise in earnings a share boosted by a one-off profit and sales in the fourth quarter showed signs of recovery as a string of interest rate cuts fed into the economy.

Retailers have been battling a slowdown in spending, with Woolworths one of the hardest hit as its largely middle-class customers opted for cheaper options. - Reuters

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