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Woolworths slashes prices on hundreds of products in Lower Shelf Price campaign as financial results loom
Woolworths Group announced a 15.4% rise in net profit after tax before significant items to $1.60 billion for FY26, with group sales up 3.6% to $71.54 billion. The company also expanded its Lower Shelf Price program by 105 products as it prepares to release full financial results, while a separate court case over alleged fake discounts remains pending.
Woolworths posts profit growth as Lower Shelf Price expands
Woolworths Group has reported a 3.6% increase in group sales to $71.54 billion and a 15.4% gain in net profit after tax before significant items, reaching $1.60 billion for the full financial year, according to the company's latest results.
The company's EBITDA before significant items rose 6.7% to $6.09 billion, while EBIT before significant items increased 12.7% to $3.11 billion. A final fully franked dividend of 52 cents per share was declared, up 15.6% from the prior year.
In the Australian Food business, sales rose 4.6% and EBIT increased 8.5%, with the company attributing growth to improved store execution and customer offers, particularly in the second half. Online food sales grew 18.6%, supported by expanded On Demand delivery services and new technology. In New Zealand, sales increased 2.5% in local currency terms, though the result was tempered by a weaker currency and disruption from store changes. The company's Petstock business delivered a 33.5% rise in EBIT, and BIG W returned to profit after a loss the prior year. Group eCommerce sales rose 15.9% to $10.6 billion.
Woolworths reported a 15.4% gain in net profit after tax before significant items to $1.60 billion, with group sales up 3.6% to $71.54 billion. EBITDA before significant items was $6.09 billion, up 6.7%, while EBIT before significant items came in at $3.11 billion, up 12.7%.
Chief executive Amanda Bardwell said the company's focus on value, convenience and execution had improved customer advocacy and sales momentum, particularly in the second half of the year. "Looking ahead, while we expect the challenging economic environment to continue with household budgets remaining under pressure, our strategy to deliver low prices and the best range and convenience gives us confidence we can be first choice for customers while delivering for our shareholders," she said.
In a separate development, Woolworths said it had added more than 100 products to its Lower Shelf Price program, bringing the total to more than 2,000 weekly specials across 105 additional lines. The company says the average discount on a $150 shop of Lower Shelf Price items is about 16%. Examples of the deepest reductions include 40% off Kirks soft drinks, 41% off Rexona deodorant and Bulla ice cream, and reductions of 5.6% to 12.9% on select own-brand meat lines.
The regulatory backdrop
The announcement comes as the Federal Court considers whether Woolworths misled shoppers with fake discounts under its "Prices Dropped" promotion. The Australian Competition and Consumer Commission has alleged the company breached consumer law on 266 products between September 2021 and May 2023. A similar case against Coles was resolved when the Federal Court ruled the rival supermarket had misled consumers over its "Down Down" campaign, with penalties potentially reaching hundreds of millions of dollars.
How each outlet told it
The Motley Fool Australia
Framing: Headline emphasizes sales, profit, and dividend growth, focusing on financial gains; omits any mention of underpayment scandal or legal issues. — Optimistic and investor-focused; quotes CEO confidently about strategy.
Facts Included:
Share price in focus after reporting 3.6% increase in Group sales to $71.5 billion
NPAT before significant items up 15.4% to $1.60 billion
EBITDA before significant items lifted 6.7% to $6.09 billion
EBIT before significant items increased 12.7% to $3.11 billion
Final fully franked dividend of 52 cents per share, up 15.6%
Group eCommerce sales rose 15.9% to $10.6 billion
Australian Food sales rose 4.6% and EBIT up 8.5%
Online food sales jumped 18.6%
New Zealand sales increased 2.5% in NZ dollars but dampened by currency and store changes
Petstock EBIT climbed 33.5%
BIG W returned to profit
CEO Amanda Bardwell quoted on strategy and customer advocacy
First eight weeks of FY27 momentum with Disney Ooshies campaign
Framing: Headline emphasizes profit surge alongside underpayment scandal, linking positive financial result with negative legal issue. — Balanced but slightly critical; quote from CEO about cost-of-living pressures adds measured outlook.
Facts Included:
Woolworths posted an 18 per cent surge in group profits
Net profit of $1.138bn
Net profit would have been $1.599bn without Fair Work case expense
Group sales rose to $71.5bn during the year until June 28, up 3.6 per cent
Woolworths and Coles found to have underpaid nearly 30,000 employees due to award errors
CEO Amanda Bardwell warned of cost-of-living pressures
Quote from Amanda Bardwell about challenging economic environment and strategy
Framing: Headline emphasizes price cuts and ties them to upcoming financial results, hinting at strategic timing. — Neutral but slightly investigative, highlighting legal scrutiny alongside promotional activity.
Facts Included:
Woolworths added more than a hundred extra products to Lower Shelf Price scheme
Company posting full-year financial results on Wednesday
Federal Court mulling decision on whether Woolworths deceived shoppers with allegedly fake discounts under 'Prices Dropped' promotion
Coles was sued by competition regulator and Federal Court ruled Coles broke consumer law in 2022 and 2023
Separate court case against Woolworths decision yet to be released
Woolworths accused of pushing fake discounts on 266 products between September 2021 and May 2023
105 more products added to Lower Shelf Price, total 1035 staple products
Average discount of 16 per cent on $150 shop of Lower Shelf Price items
CEO Amanda Bardwell quoted on committed to providing meaningful value
Examples of largest reductions: Kirks soft drink 40% off, Rexona deodorant and Bulla ice cream 41% off
Own-brand products down between 5.6% to 12.9%
Woolworths share price rocketed up 31.7% in 2026, outperforming consumer stock index by 14%
Coles share price modest gains, pending fines could be hundreds of millions
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Claim
Confidence
Status
ClaimWoolworths posted an 18 per cent surge in group net profit.
ClaimWoolworths CEO Amanda Bardwell said: 'Looking ahead, while we expect the challenging economic environment to continue with household budgets remaining under pressure, our strategy to deliver low prices and the best range and convenience gives us confidence we can be first choice for customers while delivering for our team and shareholders in the year ahead.'
ClaimWoolworths reported continued strong momentum in Australian Food for the first eight weeks of FY27, with a notable boost from the Disney Ooshies collectibles campaign.
ClaimThe Federal Court is mulling its decision on whether Woolworths deceived shoppers with allegedly fake discounts under the 'Prices Dropped' promotion.
ClaimColes was sued by the competition regulator, and the Federal Court ruled Coles broke consumer law by misleading shoppers on discount prices in 2022 and 2023.
ClaimWoolworths chief executive Amanda Bardwell said: 'We are committed to continuing to provide meaningful value to families on the products that are most important in their weekly shop. Lower Shelf Price is giving customers lower prices for longer, and we've seen more and more people adding these products to their trolley to spend less on everyday household essentials.'
ClaimWoolworths' largest reductions for staple items include up to 40 per cent for Kirks soft drink, and 41 per cent off Rexona deodorant and Bulla ice cream.
ClaimColes' share price recorded more modest gains over the past year, and the pending Federal Court fines over its 'Down Down' discount claims could run into the hundreds of millions of dollars.