Countdown sales rise 2.7 per cent | Stuff.co.nz

Supermarket chain Countdown has reported first quarter sales of $1.5 billion, up 2.7 per cent on the same period last year.

The results for the 14 weeks to September 30 show particularly strong results in seafood and grocery, although the ASX-listed parent company Woolworths did not break the figures down.

Dave Chambers, the managing director of Countdown operator Progressive Enterprises, said the group continued to grow market share, customer numbers, basket size and items sold despite the ongoing challenging economic conditions and the impact of competitors' new stores.

Total Countdown stores in New Zealand remain at 161 with one remaining closed following the February 2011 Christchurch earthquake.

Countdown's New Zealand food price index showed deflation - prices going down - for the quarter of 0.2 per cent compared to inflation of 1.9 per cent at the same time last year.

"This was driven by deflation in dairy and dry grocery in particular, although most categories experienced deflation during the quarter," Chambers said.

Woolworths' entire supermarket division reported first quarter sales of A$12.9b ($16.2b), up 3.4 per cent on the same time last year. Total group sales were A$15.2b, up 4.3 per cent on the same quarter last year.

The group's consumer electronics sales in New Zealand fell 8.8 per cent to $73 million for the quarter, driven by store closures which took place in the second half of the financial year as part of a restructuring and sale of the Dick Smith business.

The electronics chain was sold last month to Australian private equity firm Anchorage Capital Partners for a reported A$20 million (NZ$25m), ending an eight-month search for a buyer.

Overall across Australia and New Zealand, a further Dick Smith 24 stores were closed during the quarter as part of the divestment strategy. Total stores at the end of the quarter were 325 with 61 in New Zealand.

- ? Fairfax NZ News

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Source: http://www.stuff.co.nz/business/industries/7852032/Countdown-sales-rise-2-7-per-cent

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