0057 GMT - Woolworths' bull at Macquarie thinks that the Australian supermarket operator's domestic food division performed pretty well in 3Q considering the costs of trying to recover lost market share. An analyst note from the investment bank points out that 3.0% on year growth in Australian food sales was higher than the average analyst forecast of 1.9%, signaling some recovery from the pre-Christmas hit of strikes at some of its distribution centers. Less positive are the widening losses at Woolworths' budget department stores, where Macquarie calls out management commentary on challenging clothing sales and a reliance on clearance items. Macquarie has an outperform rating and A$30.80 target price on the stock, which is up 0.4% at A$31.71. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 20:57 ET (00:57 GMT)
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