Sydney, Feb 1, 2026, 17:33 AEDT — The market has closed.
Woolworths Group Ltd shares gained A$0.35, or 1.1%, closing at A$30.94 on Friday despite the broader market decline. The stock fluctuated between A$30.69 and A$31.10, with roughly 3.1 million shares traded, data showed. (Yahoo Finance)
That relative strength is key heading into Monday, as supermarkets often act as “defensive” stocks — shoppers keep buying groceries even when markets wobble and budgets shrink.
Next week brings two key moments. The central bank steps up first. After that, a wave of retailer earnings rolls in—often the real test for who can keep their margin in a challenging market.
Coles Group Limited climbed 1.1% on Friday, closing at A$21.28, tracking Woolworths even as the benchmark slipped. (Yahoo Finance)
The Reserve Bank of Australia is next up, set to release its monetary policy decision statement at 2:30 p.m. AEDT on Tuesday. This statement will reveal the bank’s stance on interest rates along with its assessment of inflation and demand. (Reserve Bank of Australia)
Supermarket investors see rates holding steady. A harsher rate environment can tighten household budgets, shifting shopping habits toward more own-brand items and fewer extras — a shift that can quickly hit gross margins.
Woolworths will release its fiscal 2026 half-year results on Feb. 25, providing the market with a firm date to focus on. (Woolworths Group)
Coles Group Limited is set to report its interim results on Feb. 27, with an analyst briefing planned for 10:00 a.m. AEDT. The announcement comes two days after another key update. (Colesgroup)
Risks extend beyond basket size. A December Reuters report revealed Woolworths faces a class action in South Australia over alleged underpayments. The company had earlier warned of a possible post-tax charge between A$180 million and A$330 million linked to these historical underpayments. (Reuters)
Woolworths announced last week that Jon Alferness will join its board starting March 1, according to an ASX filing, as Tracey Fellows prepares to retire. Chair Scott Perkins expressed the company’s pleasure in welcoming Jon to the Board.
The next session will hinge on whether Friday’s shift toward staples sticks once trading resumes. After that, all eyes turn to Tuesday’s RBA decision, the first major catalyst before Woolworths’ earnings release later in February.
