Woolworths faces tougher comparisons after a slightly better first quarter
Macquarie says Woolworths beat expectations slightly in first-quarter sales but will struggle to sustain growth, and it keeps an underperform rating.
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what happened
Macquarie analysts note that Woolworths' first-quarter sales came in slightly above expectations, but the supermarket owner will find it harder to keep up that pace from here. Sales in its Australian food business rose 6.9%, according to Market Talk.
Macquarie argues that most of this performance came off a relatively low base. The comparison with last year will be tougher, since growth in that period was notably stronger.
The report was published by Market Talk.
why it matters
Macquarie keeps its underperform rating on the stock. The analysts see downside at the current valuation as the gap between sales and cost growth narrows, though defensive stocks may command a premium in the present environment.
market impact
Woolworths shares: Macquarie's cautious view weighs on investor sentiment
tags
instruments
sources
- For Woolworths, Now Comes The Hard Part — Market Talk, 28 October 2026 at 21:51 UTC
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