Woolworths' NZ earnings fall 21%...
Woolworths' NZ earnings fall 21%...
The Australian supermarket operator said rising costs and inflation impacted its operations.
...And I'm taking partial credit for that. No need to thank me, just keep shopping elsewhere. Everyone keep doing your part.
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Where does the 21% drop in earnings in the title come from? The article says sales increased 4.6%
Wierd, it was the link I clicked on:
Pretty weird to not include their claim in the article.
Woolworths said its New Zealand profit had been impacted by significant cost inflation despite increasing its sales.
Turnover is up, profit down, by the sound of it.
The article says what this years NZ profit is, and then says what the Woolworths Australia total profit change is (an increase). It doesn't give us the information to calculate whether NZ profit is up or down. I guess the profit change is the 21% but it's pretty sloppy article writing to not include your claim in the article.
About on par for Stuff, in other words.
I wonder if some of those cost increases are boosting the Australian parent's revenues? I've seen some house branded stuff go up in price significantly compared to competing products.
Almost certainly, although revenue does not mean profit.