On Thursday, Woolworths Ltd. shared that, on the back of a steadily improving company performance and a strengthening economy, the firm is positive that it will not only reach, but also cross the A$2 Billion earnings target for the 2010 fiscal year. The group, months after announcing a move into the home improvement market in association with an American firm Lowe's Cos., has revised the earnings and sales figures it shared in August.

At the company's annual general meeting, Chairman James Strong asserted that the management is "continuing to monitor its options including new investments".

For the 2010 fiscal year, Woolworths is expecting a 8-11% increase in net earnings, as compared to last year, and has stressed that sales for the year would grow to hit the upper single digits. Pre-tax earnings, the company believes, will grow much faster than sales for the 2010 year.

For the last fiscal year, 2009, the retailer posted net profit of A$1.84 Billion, and this was during the height of the financial crisis; analysts are, therefore, positive that Woolworths will deliver what it has promised.