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Woolworths (WOW) $38.44

WOW +0.37%: Released a 3Q22 sales update today that was broadly positive with their important Aussie Supermarkets enjoying like for like (LFL) sales growth of +4.4% which was above market consensus of +2.4%. They now have 9.9% online penetration which is strong while they highlighted food inflation which is running at 2.7%. Trading momentum in Q4 remained solid particularly in Australia while there was some Covid related disruptions in New Zealand, and that seems to be the reason why the stock was subdued today.

MM remains long & bullish WOW
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Woolworths (WOW)
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