Woolworths has reported on a 4.1 per cent increase in second quarter sales for fiscal 2009/10, up to A$13.8bn, slightly down on the first quarter when year-on-year sales growth hit 4.2 per cent.
The retailer said that its full-year sales forecast remained stable, with sales expected to be in the upper single digits and net profit up by 8-11 per cent, according to Reuters.
'In Australia, this quarter's sales result is a strong indication of the positive impact of the government's first stimulus package of 2008,' said Woolworths chief executive office Michael Luscombe in a statement.
However, the second half of the year could see results hit by the waning government stimulus package and low inflation, according to analysts.
