The Woolworths share price just hit a 52-week low: Is it a buy?
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The Woolworths Group Ltd (ASX: WOW) share price has dropped 25% since June 2023 and close to 20% from 28 August 2024. On Friday, it dropped to a 52-week low of $29.79.
As the chart above shows, Woolworths’ supermarket business has declined significantly since the COVID and elevated inflation periods.
However, the sell-off could be an opportunity. We all need food, and demand isn’t exactly dropping at Woolworths’ supermarkets.
In the recent FY25 first quarter result, Woolworths told the market that its total group sales rose 4.5% year over year to $18 billion, with total e-commerce sales growth of 21.2%. Australian food sales rose by 3.8% to $13.6 billion, and Australian business-to-business (B2B) revenue…
