Woolworths triples dividend as clothing sales improve
Food sales slowed even as it cut prices, but the group is seeing growth in its clothing business
31 August 2022 - 08:51
UPDATED 31 August 2022 - 20:17
Retailer Woolworths tripled its dividend as it boasted a healthy cash balance and an improved clothing sales performance, but saw weaker food sales even as it cut prices in the face of cash-strapped consumers and increasing competition from peers.
Woolworths Food, which has long been the star performer for the group, grew sales 4.2% in the year to June 26, with 3.1% growth in same stores, lower than the increase in prices. ..
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