Overview of Woolworths Group's Q3 F24 sales results

Woolworths Group (ASX: $WOW) has released its Third Quarter Sales Results for the 13-week period ended 31 March 2024. The Group reported a 2.8% increase in total sales to $16,800 million, with eCom sales rising by 17.6% to $1,931 million. The Group's Voice of Customer NPS stood at 43, reflecting a 4-point increase from March 2023. Despite a material moderation in inflation, customer caution persisted, impacting sales growth across the Group.

Executive commentary on Q3 F24 performance and outlook

Woolworths Group CEO, Brad Banducci, acknowledged the challenging quarter, noting a noticeable shift in customer sentiment and shopping behaviors since Christmas. He highlighted the impact of customer caution on sales growth but expressed optimism for more stable trading in Q4. Banducci emphasized the momentum in eCom sales, driven by a double-digit increase in active customers and item growth. He also addressed the challenges faced by specific business segments, outlining strategies to navigate the more challenging environment and provide value for customers.

Summary of Q3 F24 sales results and future outlook

Woolworths Group's Q3 F24 sales results reflect a mixed performance across its business segments, with total sales increasing by 2.8% and eCom sales showing strong momentum with an increase of 17.6%. The CEO's commentary highlighted the impact of customer caution on sales growth and outlined the Group's focus on providing value for customers amidst cost-of-living pressures. Looking ahead, the company anticipates challenging trading conditions for the next 12 months due to competition for customer shopping baskets and expects to manage this through an ongoing focus on customers, team, and productivity plans.