CEO says Woolworths trading well as Christmas approaches

12/15/2009 | Australian (tiered subscription model), The

Michael Luscombe, CEO at Woolworths, said the economic environment and the lack of additional government stimulus payments is making it difficult to increase sales, but the retailer is doing well as Christmas nears. "Achieving comparable sales growth year-on-year is the critical indicator of performance, and we're currently cycling over the effects of last year's stimulus payout," he said. "So not only do our guys and girls have to achieve the same result as last year, but without the stimulus halo, they actually have to better it -- that's a big ask, but they're doing well and early signs are that we're going to have a good Christmas."

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Australian (tiered subscription model), The

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