Woolworths posts $1.14bn profit in cost-of-living crisis – but CEO says it’s not thanks to rising shelf prices
CEO claims more customers buying more led to $175m surge in net profit as Ooshies craze boosts sales Woolworths has reported a $175m surge in net profit to $1.14bn, with profit margins rising and the Ooshies toys promotion boosting sales.
The company’s market value surged $2bn and briefly exceeded $50bn, its highest value since 2021, as investors bought in after it reported annual results on Wednesday.
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