Woolworths sees lower earnings from food unit

Shares of the grocer tumbled as much as 10.6% to A$36.26 (RM109.23), hitting their lowest level in nearly six months, while the broader market fell 0.4%.

SYDNEY: Australia’s biggest supermarket chain Woolworths Group has forecast lower first-half operating income from its domestic food business as easing Covid-19 curbs brought an end to pandemic stockpiling.

Shares of the grocer tumbled as much as 10.6% to A$36.26 (RM109.23), hitting their lowest level in nearly six months, while the broader market fell 0.4%.