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“Back to what good looks like”: The ups and downs of Woolworths’ FY23

Australian retail giant Woolworths Group reported solid FY23 results on Wednesday, showcasing the supermarket sector’s resilience in the face of falling consumer spending.  Earnings before interest and tax (EBIT) from the company’s Australian supermarkets rose 19.1 per cent over the financial year to $2.8 billion, while EBIT in the New Zealand  Countdown business fell 7.4 per cent to $249 million.  Discount department store chain Big W, meanwhile, saw earnings jump 165 per cent to
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