‘Full extent of the financial impact is unknown at this stage’: Woolworths sales losses have tripled initial projections

Woolworths has posted a grim ASX update showing the financial impact of a 17-day strike at its distribution hubs.

The strike ended over the weekend, as the supermarket and workers agreed to individual enterprise agreement offers that guarantee team members a wage increase of approximately 11% over three years, and the relaxation of strict performance metrics that had workers complaining they were being treated like robots.

Woolworths reported to the market on Monday that grocery sales were impacted by approximately $140 million in total, close to triple the $50 million in losses the supermarket reported in a December 3 update.