The Woolworths Group Ltd (ASX: WOW) share price put on a decent performance in November. Stock in the supermarket giant gained 4.39% over the month just been.
After closing October at $33.02, the Woolworths share price had leapt to $34.47 by the end of November.
However, the consumer staples stock underperformed the broader S&P/ASX 200 Index (ASX: XJO). The index rose 6.13% last month. Meanwhile, the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) gained 3.78%.
So, what helped drive the Woolworths share price higher in November? Let's take a look.
What went right for the Woolworths share price last month?
There was only one price-sensitive release from Woolworths last month, and I dropped early in the peace.
The company revealed its first quarter sales results on 3 November, to the disappointment of the market.
The supermarket operator's group sales lifted 1.8% over the quarter ended 2 October, coming in at around $16.4 billion.
Its Australian food segment saw sales slump 0.5% to $12.2 billion while its New Zealand food sales fell 2.5%.
Fortunately, the company's Big W business offset the declines, posting a 30.1% increase in sales, which lifted to $1.2 billion. Its Australian business-to-business segment also outperformed, with sales rising 26% to $1.2 billion.
The Woolworths share price fell 3.5% on the back of the update.
In non-price sensitive news, the company kicked off its Christmas campaign last month.
Woolies supermarkets are said to be offering "inflation-busting value" this holiday season while competing supermarket Coles Group Ltd (ASX: COL) previously "LOCKED" certain items' prices until the end of January.
Big W also got into the holiday spirit, giving a festive makeover to many of Australia's 'big things' – a move that coincided with the launch of its Christmas campaign, Make a Little Magic.
Sadly, however, the Woolworths share price's recent uptick hasn't been enough to boost it back into the longer-term green. It's still down 10% year to date and 13% over the last 12 months.
For comparison, the ASX 200 has slipped 3% in 2022 and has gained 2% over the last 12 months.
