Australia's Woolworths falls to 2-month low on weak annual outlook; Jefferies to cut annual earnings view

Woolworths

30/04/2026 05:29

Updates

** Shares of Woolworths WOW.AX fall as much as 9.8% to A$33.63, lowest level since February 25

** Stock set for biggest intraday trading pct drop since August 27, 2025

** Jefferies expects to cut its FY26 EBIT outlook for co by roughly 3%, says FY27 downgrade 'likely larger'

 ** Says co appears to be planning to absorb material component of inflation amid Middle East conflict

** WOW, Australia's largest grocer, warned domestic food segment earnings growth can't reach upper end of annual guidance range

** Co to freeze shelf prices for three months on 300 household staples from May 1, will absorb any agreed-upon supplier cost increases

** Co posted group sales of A$18.10 billion ($12.90 billion) for 13-week period ended April 5

** Avg rating of 16 analysts suggest "hold"; their median PT is A$35, LSEG data shows

** Stock up 18.3% YTD

($1 = 1.4033 Australian dollars)

(Reporting by Shivangi Lahiri and Aamir Sheik Khalid in Bengaluru)

((shivangi.lahiri@thomsonreuters.commailto:Aamir.SheikKhalid@thomsonreuters.com))