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RETAIL giant Woolwordivest it's Dick Smith chain.

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vk3pa

Posted - 31 Jan 2012 : 08:28:24 AM

RETAIL giant Woolworths has confirmed speculation that it will divest it's Dick Smith chain.
Woolworths today also announced that its first half sales rose five per cent to $29.7 billion despite the supermarket giant facing subdued consumer confidence and falling prices.

In the 27 weeks to January 1, Woolworths recorded first half sales growth of 5.6 per cent from the previous corresponding period in its supermarket division.

Sales growth was 16.4 per cent in its home improvement division.

"The first half result was solid considering the ongoing headwinds facing the retail sector with subdued consumer confidence and significant deflation along with the change agenda we are driving through our business,'' Chief executive Grant O'Brien said in a statement.

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