(Reuters) -Australia’s Woolworths Group reported a 4.5% leap in first-quarter group gross sales on Wednesday, as decrease meals costs helped drive extra gross sales volumes.
Slowing inflation, mixed with the federal government’s tax cuts and electrical energy rebates in Australia have additionally helped to alleviate cost-of-living pressures to some extent.
The nation’s prime grocer logged complete group gross sales of A$18 billion ($11.80 billion) for the September quarter, in contrast with A$17.22 billion a yr in the past, and beating a Seen Alpha consensus estimate of A$17.25 billion.
Woolworths’ largest earner, the Australian Meals phase, posted a 3.8% development in gross sales at A$13.60 billion throughout the quarter, as shoppers purchased extra gadgets as a result of moderation in meals costs.
($1 = 1.5249 Australian {dollars})
