Why is the Woolworths share price having such a wow of a time today?

The Woolworths Group Ltd (ASX: WOW) share price is in the green today despite the broader market’s slump.

Right now, stock in the supermarket giant is up 1.04%, trading for $35.02. For comparison, the S&P/ASX 200 Index (ASX: XJO) has slumped 0.18%.

So, what might be going right for the Woolies share price on Monday? Let’s take a look.

What’s boosting the Woolworths share price today?

The Woolworths share price is outperforming today alongside the company’s home sector.

The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) is also up 0.98% at the time of writing, which might be rubbing off on the Woolworths share price.

Among the Consumer Staples index leaders is Woolies’ peer Coles Group Ltd (ASX: COL). Stock in Coles has lifted 1.45% right now.

Shares in Endeavour Group Ltd (ASX: EDV) – spun out of Woolworths last year – are also gaining, rising 0.63%.

The last time the market heard price-sensitive news from Woolworths was a little over two weeks ago. Then, it dropped an update on its performance over the three months ended 30 September.

The stock tumbled 3.5% on the update’s release. Fortunately, it has since regained that loss, and more.

The Woolworths share price is currently 6% higher than it was this time last month. Though, it’s still 9% lower than it was at the start of 2022 and 13% lower than it was this time last year.

For comparison, the ASX 200 has dumped 6% year to date and 3% over the last 12 months.

The post Why is the Woolworths share price having such a wow of a time today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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