Two major Australian supermarket chains have reported significant profit growth for the first half of the 2022-2023 financial year, which they attributed to their efforts in meeting customers’ demand and a reduction in COVID-19 related costs.
Woolworths Group, which owns the largest supermarket chain in the country–Woolworths, and a number of retail businesses such as Big W and Pet Culture has announced that it made a net profit after tax of $907 million (US$619 million) in the 27 weeks ending Jan. 1, 2023, a 14 percent increase compared to a year earlier.
In addition, the group’s overall sales rose by four percent to $33.17 billion….