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23 stories mentioning ASX:WOWUpdated 2d ago

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Asia

Consumer Demand Under Pressure, Fiscal 2027 Poised for Risk, Jefferies Says

Consumer demand has been under pressure due to lower confidence, higher interest rates and a soft property market but retailers are set to report fiscal 2026 results broadly in line with consensus, Jefferies said in a note on Monday.The investment firm said, however, rising competition and elevated wage inflation are expected to weigh on retailers' earnings in fiscal 2027.The outlook for the supermarket sector in fiscal 2027 remains sturdy, as food inflation is expected to help offset rising wage costs. Coles Group (ASX:COL), was picked as the preferred stock, with a buy rating and a raised price target of AU$26.50 from AU$25.50.Wesfarmers (ASX:WES) was downgraded to underperform, with price target of $73. Despite the retailer's strong businesses and productivity initiatives, Jefferies said the valuation appears expensive following recent share price gains in light of moderate earnings growth.Flight Centre Travel (ASX:FLT) had been performing well before the outbreak of war in the Middle East. Its outlook remains robust, supported by recovering travel demand and a stronger leisure business mix after COVID-19, while rivals continue to face challenges. The brokerage provided a buy rating and price target of AU$14.50.Domino's Pizza Enterprises (ASX:DMP) is progressing well with improving debt levels and cost reductions beginning to deliver results. Same-store sales growth, which has been weak due to unprofitable promotions, should gain pace as pricing measures take effect. Jefferies maintained its buy rating but lowered its price target to AU$26.00 from AU$28.50.

ASX:COLASX:DMPASX:FLTASX:WESASX:WOW
Asia

Woolworths' Market Share Outperformance Expected to Continue in Fiscal Q4, RBC Capital Markets Says

Woolworths Group's (ASX:WOW) market share outperformance is expected continue in fiscal fourth quarter, underpinned by price investment and improved in-store execution, RBC Capital Markets said in a Monday note.RBC forecasts the Australian food segment to deliver 4.4% comparable sales in the quarter, ahead of Woolworths' rival Coles Group (ASX:COL) at 3.4%, and AU$2.91 billion in earnings before interest and taxes (EBIT), compared with the consensus estimate of AU$2.92 billion. Fiscal 2026 and fiscal 2027 net profit after tax estimates were increased by 20 basis points.Woolworths' shift to the "everyday low prices" strategy has the potential to underpin market share gains into fiscal 2027 as price trust is re-established, RBC said. The announced shelf price freeze on 300 Woolworths-branded staples signals continued gross margin pressure in the Australian food segment. Fuel headwinds of AU$15 million to AU$25 million to the segment's EBIT in fiscal 2026 are an additional drag.The investment firm downgraded Woolworths to underperform from sector perform while raising the price target to AU$35 from AU$33.50.Woolworths' shares shed nearly 2% in recent Tuesday trade.

ASX:WOW
Research

Macquarie Downgrades Woolworths Group to Underperform From Neutral; Price Target is AU$37

Woolworths Group (ASX:WOW) has an average rating of hold and mean price target of AU$35.93, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ASX:WOW
Asia

ASX Midday Sector Update: Energy Stocks Advance, Consumer Staples Sector Struggles

Energy stocks advanced 1% at midday Monday.Woodside Energy Group (ASX:WDS) shares rose past 1% in recent trade.On the flip side, the consumer staples sector struggled, shedding nearly 1%.Woolworths Group (ASX:WOW) shares were down almost 1% in recent trade.

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Asia

ASX Midday Sector Update: Healthcare Stocks Advance, Consumer Staples Sector Struggles

Healthcare stocks advanced over 1% at midday Wednesday.CSL (ASX:CSL) gained nearly 3% in recent trade.Meanwhile, the consumer staples sector struggled, shedding nearly 3%.Woolworths Group (ASX:WOW) shares fell past 2% in recent trade.

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Coles, Woolworths to Face Ban on Excessive Pricing From July
US Markets

Coles, Woolworths to Face Ban on Excessive Pricing From July

Australia's biggest supermarket chains are set to face a ban on excessive pricing as the country's consumer watchdog rolls out new rules on grocery price gouging.The Australian Competition and Consumer Commission will start tracking Woolworths' and Coles' compliance with a new ban on excessive pricing, effective July 1, under which the regulator will decide what constitutes a reasonable margin, among other factors.Under ACCC's guidelines, the penalty for breaching the prohibition or record-keeping requirement is the greater of AU$10 million, thrice the value of the benefit gained, or 10% of the company's annual turnover from the previous year."We will focus our attention on products where excessive pricing is likely to cause the most harm to consumers," said ACCC acting Chair Catriona Lowe.This comes after Australia's Federal Court served a ruling against Coles in May over a 2024 case that alleged the company deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices.The 2024 case, brought by the ACCC, also had similar allegations against Woolworths, but the Federal Court has yet to deliver a judgment on the matter.Consumers worldwide are struggling with a cost-of-living crisis, while Australia's annual inflation rose 4% in May, with food and non-alcoholic beverages remaining the second-biggest contributor after housing.

ASX:COLASX:WOW
Asia

ACCC to Monitor Coles Group, Woolworths' Compliance With New Pricing Rules

The Australian Competition and Consumer Commission (ACCC) will start tracking big supermarkets' compliance with a new ban on excessive pricing, effective July 1, the regulator said Friday.The excessive pricing prohibition is applicable to large supermarket retailers with annual revenue of over AU$30 billion, a threshold that currently captures just Coles Group (ASX:COL) and Woolworths Group (ASX:WOW), the ACCC said.Under the new rules, the regulator will consider various factors such as the cost of supplying a grocery product and what constitutes a reasonable margin for the supermarket to decide if pricing is appropriate.The ACCC will initially focus its monitoring on a select group of products "where excessive pricing is likely to cause the most harm to consumers," said ACCC Acting Chair Catriona Lowe.

ASX:COLASX:WOW
Asia

ASX Midday Sector Update: Consumer Staples Stocks Inch Up, Information Technology Sector Struggles

Consumer staples stocks advanced nearly 1% at midday Thursday.Woolworths Group (ASX:WOW) gained nearly 1% in recent trade.On the flip side, the information technology sector struggled, shedding more than 2%.WiseTech Global (ASX:WTC) shares fell past 4% in recent trade.

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Asia

Market Chatter: Woolworths Group to Offshore Several Corporate Roles in Major Cost-Cutting Drive

Woolworths Group (ASX:WOW) will move hundreds of finance, human resources, and information technology roles offshore as part of a cost-cutting and efficiency drive aimed at improving competitiveness against rivals including Amazon, Aldi and Costco, the Australian Financial Review reported Tuesday.The move reflects supermarkets' efforts to manage shrinking margins caused by inflation, supply chain disruptions, and rising supplier costs, while also meeting demand from shoppers for lower-cost groceries.The company said it is consulting staff this week and broadening global managed service partnerships, with most of the affected positions likely in information technology.The company's Chief Executive Amanda Bardwell has cut AU$400 million in costs over the past year and reduced the range of products sold by the supermarket group in a bid to improve profitability.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:WOW
Asia

ASX Midday Sector Update: Consumer Staples Stocks Jump, Materials Sector Struggles

Consumer staples stocks advanced nearly 2% at midday Tuesday.Woolworths Group (ASX:WOW) gained 2% in recent trade.On the flip side, the materials sector struggled, shedding almost 3%.BHP Group (ASX:BHP) shares were down 2% in recent trade.

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Asia

ASX Midday Sector Update: Consumer Staples Stocks Advance, Materials Sector Struggles

Consumer staples stocks advanced 1% at midday Thursday.Woolworths Group (ASX:WOW) gained nearly 1% in recent trade.Meanwhile, the materials sector struggled, shedding more than 3%.BHP Group (ASX:BHP) shares fell nearly 4% following news that exports from Guinea's Simandou iron ore project rose in May.

ASX 200ASX:BHPASX:WOW
International

New Zealand's Grocery Industry Remains Highly Concentrated, But Conditions for Entry Improving, Commerce Commission Says

New Zealand's highly concentrated grocery industry saw only minor observable change in core competition metrics over the course of 2025, with the country's top grocery retailers maintaining a combined market share of 82%, New Zealand's Commerce Commission said in a Tuesday report.Margins and profitability also remained relatively stable, as Foodstuffs South Island increased margins while Foodstuffs North Island and Woolworths Group (ASX:WOW) posted small declines, the agency said in its latest state of grocery competition report.Rebates, discounts, and payments between major grocery retailers and suppliers totaled about NZ$6 billion in 2025, accounting for 26% of the aggregate sales revenue for major grocery retailers. Online grocery sales grew to 8% of major retailers' sales revenue in 2025, up from 7% in 2024, according to the report.The top grocery retailers together invested NZ$595 million over the year, directing 62% of the total toward retail stores.Meanwhile, food price inflation picked up again in 2025 after easing in the previous year, with retail food prices jumping 4.6% in the year through December 2025, and the Middle East conflict is likely to exert additional cost pressures this year."Given the lack of competition in New Zealand's grocery industry, we are concerned that this will amplify the negative effects of this situation," the Commerce Commission said.Grocery Commissioner Pierre van Heerden said regulatory changes since 2022 are starting to yield some benefit, and the environment is "becoming more enabling for the entry and expansion of other grocery retailers, which will support an increase in consumer choice."

^NZ50ASX:WOW
Japan

ASX Midday Sector Update: Consumer Staples Stocks Advance, Materials Struggle

Consumer staples stocks advanced more than 3% at midday Tuesday.Woolworths Group (ASX:WOW) gained over 4% in recent trade after the Australian Financial Review reported Tuesday that JPMorgan upgraded the supermarket giant to overweight.On the flip side, the materials sector struggled, shedding 1%.BHP Group (ASX:BHP) shares were down past 1% in recent trade.

ASX 200ASX:BHPASX:WOW
Asia

Market Chatter: Woolworths Group Shares Advance After JPMorgan Upgrade

Woolworths Group (ASX:WOW) shares advanced 4% in recent Tuesday trade after JPMorgan raised its recommendation on the company to "overweight," the Australian Financial Review reported the same day.In a note, JPMorgan reportedly said investor focus is shifting toward margin differentials as opposed to sales growth amid a fresh inflation cycle driven by geopolitical concerns."We expect Woolworths to once again leverage its strong position with suppliers to generate gross margin expansion as it rolls out its Customer Offer Reset program across a broader range of categories," the report quoted JPMorgan as saying.The investment firm also raised its fiscal 2027 and 2028 earnings estimates for Woolworths by 1.2% and 7.6%, respectively, while increasing its price target to AU$37, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:WOW
Asia

Update: Federal Court Rules Against Coles Group on Price Discounts in ACCC Case

(Updates with a statement from Coles in the fifth paragraph and the latest stock move in the last paragraph.)Australia's Federal Court ruled Thursday that Coles Group (ASX:COL) deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices, according to multiple same-day media reports.The case against Coles was brought by the Australian Competition and Consumer Commission (ACCC) in 2024. The consumer watchdog also filed similar allegations against Woolworths Group (ASX:WOW), with that lawsuit still pending a verdict.The ACCC said Coles increased prices on certain items for a very short period of time before putting them on a discount, making the promotions illusory in nature. For example, the price of a dog food product sold for AU$4 for almost a year was briefly raised to AU$6 before being discounted to AU$4.50 as part of its "Down Down" price campaign, according to the reports."13 of the 14 'Down Down' tickets that were the subject of consideration in the joint liability trial were misleading because the relevant products were not sold at the 'was' price stated on the ticket for a reasonable period," Federal Court judge Michael O'Bryan reportedly said in his decision.In a statement, Coles said the court found that all price hikes "resulted from supplier cost price increases and were, therefore, commercially justifiable." The case highlights the "need for clear, practical guidance on minimum price establishment periods to ensure the retail industry can avoid unnecessary litigation in future," the company said, adding that it is reviewing the judgment.The company's shares fell nearly 3% in recent Thursday trade.

ASX:COLASX:WOW
Asia

Federal Court Rules Against Coles Group on Price Discounts in ACCC Case

Australia's Federal Court ruled Thursday that Coles Group (ASX:COL) deceived shoppers by advertising discounts on products that, in many cases, were being sold at higher prices, according to multiple same-day media reports.The case against Coles was brought by the Australian Competition and Consumer Commission (ACCC) in 2024. The consumer watchdog also filed similar allegations against Woolworths Group (ASX:WOW), with that lawsuit still pending a verdict.The ACCC said Coles increased prices on certain items for a very short period of time before putting them on a discount, making the promotions illusory in nature. For example, the price of a dog food product sold for AU$4 for almost a year was briefly raised to AU$6 before being discounted to AU$4.50 as part of its "Down Down" price campaign, according to the reports."13 of the 14 'Down Down' tickets that were the subject of consideration in the joint liability trial were misleading because the relevant products were not sold at the 'was' price stated on the ticket for a reasonable period," Federal Court judge Michael O'Bryan reportedly said in his decision.Coles did not immediately respond to a request for comment from.The company's shares fell 1% in recent Thursday trade.

ASX:COLASX:WOW
Asia

Woolworths Group Faces Margin Pressure Despite 'Solid' Sales Momentum, Jefferies Says

Woolworths Group (ASX:WOW) reported "solid" fiscal third quarter sales growth but flagged softer earnings guidance and rising pricing pressures, pointing to margin strain and a more cautious earnings outlook, Jefferies said in a Thursday note.The company reported Australian food like-for-like sales growth of 5.3% in the fiscal third quarter, slightly ahead of Jefferies estimates of 4.9%, supported by strength in fresh and private-label ranges, with total sales up 5.9% and food retail sales excluding tobacco rising 7.3%, despite a 42% decline in tobacco revenue.The company lowered its fiscal 2026 Australian food earnings before interest and taxes growth outlook due to fuel cost pressures and pricing investments despite strong sales, while in New Zealand it expects weaker second-half earnings but still projects fiscal-year growth over last year.The equity research firm said that higher fuel costs have only a modest impact and suggested the larger earnings downgrade likely reflects potential pricing investment, even though current competitive conditions do not justify aggressive discounting.The research firm highlighted that online sales rose around 24% year on year, adding AU$435 million in incremental sales and lifting penetration to a record nearly 17%.The research firm noted softer customer metrics, with net promoter scores falling to 47 from 52 after five quarters of gains amid post-holiday normalization, volatility, and weaker sentiment.Jefferies maintained a hold rating on Woolworths Group and lowered the price target to AU$32 from AU$33.50.

ASX:WOW
Asia

Australian Shares Extend Losing Streak; Woolworths Group Reports Higher Fiscal Q3 Sales

Australian shares extended their losing streak for the eighth consecutive day on Thursday's close as the US continued its naval blockade of Iranian ports.The S&P/ASX 200 Index retreated 0.24%, or by 21.20 points, to close at 8,665.80.Brent crude oil futures jumped 5.2% to $124.15 per barrel. The Strait of Hormuz remained closed, as US President Donald Trump is reported to be considering military options as the deadlock in negotiations with Iran continues, according to an Axios report as cited by Reuters.On the domestic front, Australia's export prices rose 0.5% in the March quarter after a 3.2% increase in the December 2025 quarter, while import prices rose 0.1% after a 0.9% increase in the previous quarter, data from the Australian Bureau of Statistics showed.Australia's total credit rose 0.7% month on month in March, following a 0.6% increase in February, data from the Reserve Bank of Australia showed.Small businesses in Australia had a firm start to the year, with the March quarter recording a 7.2% jump in sales, though higher fuel prices amid the Middle East conflict present a key risk, Xero said. Sales, jobs, and wages all grew during the quarter, nearly reaching their historical average growth rates.In company news, Woolworths Group (ASX:WOW) reported fiscal third-quarter sales of about AU$18.1 billion, up 4.5% from AU$17.31 billion in the year-ago period. Reported fiscal 2026 Australian food earnings before interest and taxes growth is still expected to be in the mid to high single-digit range, but no longer at the upper end of the range. Its shares fell 7% at market close.Mineral Resources' (ASX:MIN) fiscal third-quarter production volume reached 80 million wet metric tonnes (wmt), up from 62 million wmt a year earlier. Total iron ore production for the three months ended March 31 across Onslow Iron and the Pilbara Hub was 10.3 million wmt, with shipments totaling 9.3 million wmt. Its shares closed up 2%.Lastly, ASX (ASX:ASX) appointed Darren Yip, group executive of markets and listings, as interim chief executive, succeeding Helen Lofthouse, effective May 29. Its shares also closed up 2%.

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Asia

ASX Midday Sector Update: Information Technology Stocks Gain, Woolworths Weighs on Consumer Staples

Information technology stocks advanced nearly 2% to lead gainers in midday trading Thursday, after a number of US-listed peers overnight reported strong quarterly results that beat analyst expectations.WiseTech Global (ASX:WTC) rose almost 5%, and Xero (ASX:XRO) gained 2%.On the flip side, consumer staples stocks shed 4%, weighed down by a decline in Woolworths Group (ASX:WOW), the largest company in the sector by market capitalization.Shares of Woolworths slid more than 6% after the supermarket chain operator said fiscal 2026 Australian food earnings before interest and taxes growth is no longer expected to be at the upper end of its guidance range, as higher fuel costs and secondary effects from the Middle East conflict are likely to have an increasing inflationary impact through the remainder of the year.

ASX 200ASX:WOWASX:WTCASX:XRO
Asia

Update: Woolworths Group Reports Higher Fiscal Q3 Sales; Freezes Shelf Prices on Hundreds of Household Staples; Shares Fall 6%

(Updates to add stock movement in the headline and last paragraph)Woolworths Group (ASX:WOW) reported fiscal third-quarter sales of about AU$18.1 billion, up 4.5% from AU$17.31 billion in the year-ago period, according to a Thursday filing with the Australian bourse.Australian food sales increased 5.9% year over year to AU$13.83 billion, while New Zealand food sales measured in the local currency ticked 1.4% higher, per the filing.While the impact of the Middle East conflict on the company's business has so far been limited, "higher fuel costs and secondary effects are likely to have an increasing inflationary impact as we move through the calendar year," CEO Amanda Bardwell said.Reported fiscal 2026 Australian food earnings before interest and taxes growth is still expected to be in the mid to high single-digit range but no longer at the upper end of the range, Woolworths said.The guidance reflects incremental costs associated with direct fuel exposures as well as initiatives to support customers during a period of budgetary constraint, including a freeze on shelf prices for 300 household staples, the company disclosed in a separate Thursday statement.The price freeze includes Woolworths-branded or exclusive products, including eggs, bread, chicken, sausages, pasta, and diapers starting from May 1 for the next three months.The company's shares fell around 6% in recent Thursday trade.

ASX:WOW

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