Woolworths Holdings Ltd (WLWHF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining us today for Woolworth Group's first quarter sales results for the 2026 financial year. I'd like to acknowledge the traditional custodians of the land on which we meet today, Dharong Country, and pay my respects to Elders past, present and emerging. Joining me this morning are Stephen Harrison, our Chief Financial Officer, Annette Carantoni, Managing Director of Woolworth Retail, Sally Copeland, Managing Director of Woolworth New Zealand, Amitabh Mall, Managing Director of Group EcomX, and Dan Haig, Managing Director of Big W. I will begin by acknowledging that the group's overall sales performance during the first quarter remains below our aspirations. However, the changes we've made to improve our offer in areas that matter most to our customers, value, convenience, and availability are being recognised, with group customer metrics up on prior periods, and an improvement in sales trends over the last month. Group voice of customer NPS increased by four points compared to the prior quarter, and three points compared to the prior year, driven by improvements in Australian food and New Zealand food. We have focused on rebuilding momentum in the short term, but are also clear on our longer term strategic priorities, which we laid out in August. And we've continued to make progress on these priorities during the quarter. Now turning to performance by business. In Australian food, total sales increased 2.1% and Woolworths feed retail sales, total sales increased by 3.8%, excluding tobacco, supported by e-commerce growth of 12.9%. While customers are recognising the improvements we are making, we know there is more to do to improve sales momentum in Australian food. In September, We uplifted our investment in rewards and e-com...