Countdown suffers amid downturn

countdown St JohnsProgressive Enterprises’ Countdown supermarket chain has increased its sales by 1.1 per cent for the first half of the financial year, to $3.1 billion.

Comparable sales were less positive tough, decreasing 0.3 per cent, which the company says reflects further investment in price and ongoing subdued grocery market conditions.

Gross margin decreased six basis points.

“While the reinvestment in price as part of our Price Lockdown and Price Drop campaigns has impacted margins, strengthened customer price perception results, customer numbers, and units sold since the launch of these campaigns indicated their success as we progress with the transformation of the business,” Progressive Enterprises parent company, Woolworths, said.




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