Woolworths posts €98m loss as sales slump
20/09/2006 - 07:27:38Losses at the UK's struggling Woolworths widened today after sales tumbled as it faced continued pressure from supermarkets, specialist shops and the internet.
The one-time giant of the high street posted pre-tax losses of £66.8m (€98m) in the first half of the year compared with losses of £36.2m (€53.7m) in the same period of 2005.
It came as like-for-like sales fell 8.3%, although Woolies traditionally does worse in the first six months of the year because of its heavy reliance on Christmas trading.
