Woolworths reveals Christmas sales slide

Woolworths gave more detail on its Christmas troubles today when it revealed like-for-like sales fell 4.6% in the six weeks to January 13.

The group warned in early December that tough markets – particularly in its traditionally strong areas of CDs, DVDs and confectionery – meant it was unlikely to meet the profits performance anticipated by City analysts.

It did offer some encouragement today as it said it was in line with current market forecasts, following success in protecting margins.