ASX stock ( ) has seen its share price slide a hefty 20% this year, hitting lows not seen since before the COVID-19 pandemic. Woolworths shares are currently trading at $29.54 apiece, down more than 10% in the past month alone.
But unlike the earth's Big Bang theory, this hasn't been a random event. The has been tied up in the headlines for some weeks now. So, does this ASX stock present a buying opportunity after its recent sell-off? Let's see what the experts think.
Woolworths shares slide The ASX stock has been all year, more recently sliding from highs above $33 apiece in late October. Alongside , a few key factors have pushed down the Woolworths' share price. First, the company's half-year earnings report back in February disappointed investors.
A $1.5 billion writedown in its New Zealand business led to a half-year net loss of $781 million. Meanwhile, long-standing CEO Bradford Banducci's unexpected resignation added to market jitters.
As a result, Woolworths shares fell sharply. Adding to the company's woes, Woolworths has lost some ground to rival ( ) throughout 2024. In addition, Woolworths' net promoter score (NPS), which measures customer satisfaction relative to prices paid, declined in its last quarterly update.
Whereas Coles and rival Aldi Stores according to While Woolworths' sales grew this year, they've lagged behind Coles. In the first half of 2024, revenues grew 4.6% versus just 4% for Coles.
In the second half, Coles increased sales by 2.6% versus 1.2% for.
