WOW -7.78%: sold off sharply after the supermarket giant warned Australian Food EBIT growth will fall short of the upper end of its FY26 guidance, implying softer second-half earnings momentum. The downgrade weighed on the sector, with peers Coles and Metcash also trading lower.
- Sales: A$18.1bn, +4.5% y/y
- Australian Food sales: A$13.83bn, +5.9% y/y
- Australian Food comparable sales: +5.3%
- Australian B2B sales: A$1.51bn, +4.9% y/y
- Big W Living sales: A$1.27bn, +4.9% y/y
While trading momentum in Australian Food was solid through the quarter, with strong item growth and continued customer traffic, management flagged rising costs and increased customer caution. The company now expects FY26 Australian Food earnings growth in the mid-to-high single digits, but no longer at the upper end of that range.
MM is cautiously bullish toward WOW
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