Woolworths warns profit growth to slow as Middle East conflict and higher rates squeeze shoppers

Woolworths Holdings expects full-year headline earnings per share to rise 2.5%–7.5%, a marked slowdown from prior years, as the Middle East conflict lifts fuel costs and inflation while higher interest rates curb consumer spending. The group reported full-year sales growth of 4.3%, but growth eased to 3.3% in the second half. Its fashion and home business saw margins pressured by promotions and inventory clearance, while Australia and New Zealand unit Country Road recorded a 0.5% dip in second-half sales, according to Reuters.