Woolworths Group reports a massive 56.7% drop in profits – and reveals 37 workers tested positive for coronavirus during August
- The Woolworths Group revealed their full earnings from the last financial year
- At least 37 Victorian supermarket workers contracted COVID-19 in August
- All affected stores were deep cleaned and 18 of the workers have recovered
- Woolworths lost profit due to the impact of the coronavirus pandemic
The Woolworths Group have taken a beating during the pandemic with a massive fall in profits and dozens of workers contracting coronavirus.
Managing director and CEO Brad Banducci revealed that at least 37 Victorian supermarket workers tested positive for COVID-19 over August.
He shared the startling figures in an analyst briefing on Thursday morning after Woolworths reported a 56.7 per cent loss in yearly earnings.
The Woolworths Group (Woolworths in Mornington East pictured) revealed the impact of the coronavirus pandemic on its earnings for the last financial year on Thursday
The supermarket giant reported that at least 37 Victorian workers (VIC Police and ADF personnel in Melbourne pictured) had tested positive for coronavirus in August
Woolworths confirmed that at least 18 of the infected workers had recovered since contracting the virus.
Recently affected supermarkets include Mornington East and The Glen in Glen Waverley, along with Dan Murphy’s stores in Collingwood and Plenty Valley.
Woolworths has assured customers and team members they can continue to safely shop and work at any store.
‘As a food retailer, we already have very high standards of cleaning and hygiene in place,’ a Woolworths statement said.
The supermarket giant also undertakes an additional deep clean of any store that is affected by coronavirus as an ‘extra precautionary measure’.
‘While the risk of transmission to customers and team members is low, the safety and wellbeing of the local community is our priority,’ Woolworths said.
The retailer has also implemented special COVID-19 leave to ensure that staff members are not financially disadvantaged if they must self isolate.
Woolworths said affected stores had been cleaned and customers (people wearing masks in Melbourne pictured) could shop as normal. Workers also receive special COVID-19 leave
The report on coronavirus cases comes as Woolworth’s revealed that its full-year net profit for the last financial year fell by 56.7 per cent to $1.165billion.
‘COVID-19 had a material impact on the Group’s financial performance for the year,’ Mr Banducci said.
‘Higher costs were due to additional team hours to support the safety of our team and customers, additional costs associated with cleaning, security and personal protective equipment.’
Total revenue for the Woolworths Group increased 6.2 per cent to $63.675billion and online sales also skyrocketed by 39.1 per cent to $3.523billion.
Woolworths’ previously struggling discount department store Big W also returned and impressive profit with total sales climbing by 10.5 per cent and $4.1billion.
Mr Banducci said he was ‘especially proud of the achievements of the Big W team’.
Several other high profile companies released information about their earnings on Thursday including Flight Centre, Afterpay and the Accent Group.
Victoria recorded 23 deaths and 113 new coronavirus cases on Thursday – the lowest number of new cases for weeks.
The new fatalities take Victoria’s death doll to 485 and the national figure to 572.
Woolworths reported that its profit fell by 56.7 per cent to $1.165 billion in the last financial year thanks to the coronavirus pandemic (Coronavirus testing in Ballarat on Friday pictured)