Woolworths CEO announces worse-than-expected financial results for March quarter

Brad Banducci says period was ‘challenging’ in first public comments since fiery Senate inquiry hearing as share prices slip

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In his first public comments since his hostile Senate inquiry appearance, the Woolworths chief executive, Brad Banducci, has delivered worse-than-expected March quarter financial results and admitted the supermarket can “unequivocally improve”.

Sales across the group, which includes New Zealand and Big W stores, increased by 2.8% to $16.8bn in the quarter, while its Australian food sales were up 1.5% to $12.6bn. Average prices dropped 0.2%.

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