Australia's Woolworths cautiously optimistic on 2010 outlook

Posted on: Wed, 25 Nov 2009 21:40:00 EST


Symbols: WOLWF
SYDNEY, Nov 26, 2009 (Asia In Focus via COMTEX) --
WOLWF | Quote | Chart | News | PowerRating -- Australia's leading retailer
WOOLWORTHS LTD (ASX:WOW) has maintained its sales and earnings
guidance for fiscal 2010 and pointed to a change in customer
behaviour driven by tough conditions produced by the global
economic downturn. Chief executive Michael Luscombe told
shareholders at its annual general meeting in Sydney that while
the company had entered its new fiscal year in an optimistic
mood, there were uncertainties, such as rising interest
rates.

* "And whilst consumer confidence has started to recover, we
believe many consumers have actually learned some lessons about
how to manage their income more effectively and the quest to
extract the best possible value will continue for some time to
come," he said.

* Mr Luscombe reconfirmed its guidance for fiscal 2010 sales
to grow in the upper single digits, excluding petrol sales.

For full details on (WOLWF) WOLWF. (WOLWF) has Short Term PowerRatings at TradingMarkets. Details on (WOLWF) Short Term PowerRatings is available at This Link.

UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
Thursday February 11 04:30 PM
* Attendance is strictly limited and are filled on a first-come, first-served basis.