Woolworths posts $11 billion coronavirus-led sales bonanza

Panic buying and an explosion in home cooking has led to Woolworths posting their best quarterly sales figures in over a decade.

Sales for the quarter were up 10.3% year on year, with a whopping 40 per cent rise in March alone.  Woolworths notched up $11.1 billion in food sales in 13 weeks.

Speaking with Brooke Corte on Money News, Woolworths CEO Brad Banducci says he’s announced 17 quarters of sales results but admits this one is the strangest yet.

“It hasn’t been about sales, it’s about doing the right thing, about customer and team safety, and then making sure we support all Australians but in particular the vulnerable ones with their everyday needs,”

The panic buying seen in the early stages of the virus has subsided but Mr Banducci says shopping our shopping behaviours have adapted to the “new normal,”

“People are shopping a bit more uniformly during the week, the peaks of Saturday and Sunday afternoons have come off, afternoons and mornings during the week have become more popular,

“Tuesday, which was our slowest day, has actually come back in line with the rest of the week.”

Click PLAY to hear Brooke Corte chat with Woolworths CEO Brad Banducci: