Woolworths posts strong consumer electronics growth

By Matthew Henry

SYDNEY: Sales of consumer electronics goods through the Woolworths-owned Dick Smith Electronics and PowerHouse stores increased 15.5 per cent for the third quarter of the 2006 financial year, according to quarterly sales figures released yesterday.

Woolworths posted positive overall results for the quarter with 22.7 per cent growth across all operations including its supermarket, food and liquor, petrol and consumer electronics divisions.

Dick Smith Electronics and PowerHouse stores achieved a 10.2 per cent sales increase for the period over the corresponding quarter of the 2005 financial year, selling $276 million worth of consumer electronics goods.

“Computers, digital cameras, home entertainment categories and associated accessories for these items continued to achieve solid sales growth,” said Dick Smith Electronics general manager, Alvin Ng.

Seven new Dick Smith Electronics and PowerHouse stores were opened during the reporting period, including two in New Zealand.

Woolworths managing director and CEO, Roger Corbett, was pleased with the company’s overall quarterly results across its many divisions.

“We continue to drive all aspects of our business and provide customers with a combination of great convenience, freshness and quality, best range and consistently lower prices,” said Corbett.

The company made no mention of any progress in its planned roll-out of up to 50 Dick Smith PowerHouse stores to India this year. The Indian expansion was announced in June last year as a joint-venture with Tata, one of India’s oldest and largest businesses.

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