Woolworths beats out rivals Coles and Aldi
Woolworths is ahead of its rivals Coles and Aldi in the Australian supermarket wars according to analysts' forecasts.
Citi analysts predicted Woolworths will continue to beat Coles, as Woolworths shares hit their highest level in more than two years on Friday.
Woolworths closed at $27.70, while Coles owner Wesfarmers traded at about $44.
Woolworths is ahead of its rivals Coles and Aldi in the Australian supermarket wars according to analysts' forecasts
Since 2016 Woolworths' sales have been growing faster than Coles, after $1billion was used in lowering prices and improving customer service
Citi retail analysts Bryan Raymond and Craig Woolford said Woolworths is now likely to keep the lead in sales growth for the next two years.
Since 2016 Woolworths' sales have been growing faster than Coles, after $1billion was used in lowering prices and improving customer service.
'The momentum in the Australian grocery industry remains clearly with Woolworths,' the note written by Mr Raymond and Mr Woolford read.
'Coles and Aldi are generating limited like-for-like sales growth as independents continue to decline.'
Citi forecasts show Woolworths sales are expected to grow by 4.2 per cent for 2018, compared to 1 per cent growth for Coles.
Citi's note comes as Aldi Australia said it will expand across Australia with 32 new stores
'Woolworths has prioritised online as a long-term growth strategy while Coles has attempted to grow the channel profitably,' Mr Raymond said.
Citi's note comes as Aldi Australia said it will expand across Australia with 32 new stores.
They will not be investing in online shopping, After Pay or home delivery however.