Australia-based supermarket chain Woolworths has reported total sales of A$17.22bn ($10.94bn) in the first quarter (Q1) of fiscal year (FY) 2024.

This is an increase of 5.3% from A$16.36bn in the same period of FY23.

During the quarter ending 1 October 2023, total Australian Food sales were A$13.08bn, up by 6.4% from A$12.29bn a year ago.

Sales for Woolworths Food Retail business grew 6.1% to A$12.95bn in Q1 FY24.

Woolworths Supermarkets and Metro Food Stores reported sales growth of 4.4% and 12.3%, respectively. Sales for e-commerce increased by 18.4% to A$1.55bn over the quarter.

Total sales of Australian business-to-business (B2B) increased 1.5% to A$1.12bn in Q1 FY24. Total New Zealand Food (NZD) sales increased by 2.8% to A$2.06bn over the quarter.

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By GlobalData

Total sales of BIG W, a department store chain owned by Woolworths, declined by 5.5% to A$1.13bn in Q1 FY23 from A$1.19bn a year ago.

Woolworths Group CEO Brad Banducci said: “Importantly for our customers, inflation in our Food businesses continued to moderate over the quarter,r driven mainly by deflation in Fruit & Vegetables and Meat as lower input costs in these categories have led to lower retail prices.

“Group sales remained solid, increasing by 5.3%. Customer trends remain broadly in line with the prior quarter, with overall demand resilient; however, we are seeing our customers, particularly our saver families and young singles and couples, ever more focused on value in all forms, which has impacted our customer scores.

“Looking ahead, we have strong plans in place for the key Christmas and holiday trading period and while sales trends in October to date have remained broadly in line with the trend lines in Q1, the trading environment remains uncertain and value for money remains a key focus for our customers across all our businesses.”