Woolworths Says Sales May Not Meet Forecasts
By: AP
Woolworths Group PLC, a British retailer of goods ranging from food to DVDs, said Tuesday it may not meet analysts' forecasts after sales fell in October and November.
Sales at stores open at least a year fell 6.5% in the 18 weeks to Dec. 2, the company said in a statement.
The company said it hopes for an upturn in the weeks leading up to Christmas.
"In order to achieve results for this financial year around the lower end of market expectations, we will need to achieve a sales uplift for the remainder of the Christmas trading period and continued improvement in the margin," the company said. "However, given the sales performance of the last two months, it is appropriate to be cautious."
Woolworths Group, a British retailer of goods ranging from food to DVDs, said Tuesday it may not meet analysts' forecasts after sales fell in October and November.
