September lived up to its reputation as a terrible month for markets this year. The S&P/ASX 200 Index (ASX: XJO) dumped 7.3% over the course of last month. And it wasn't much better for the Woolworths Group Ltd (ASX: WOW) share price.
Stock in the supermarket operator fell 5.9% over the course of September, closing the month at $33.95.
That was despite some particularly exciting news being released by the ASX 200 favourite over that time.
Let's take a look at what went wrong for the Woolworths share price in September.
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What weighed on the Woolworths share price last month?
The Woolworths share price struggled alongside the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) last month.
The sector dumped 5.8% in September. Though, that saw it post one of the best performances of the ASX 200's 11 sectors.
It's also worth noting that Woolworths' closest peer, Coles Group Ltd (ASX: COL), saw its share price slip 6.4% over the course of last month.
There was plenty of news from Woolies' camp over the 30 days ended 30 September.
Perhaps most exciting, was the finalisation of its acquisition of formerly-ASX-listed MyDeal.com.au.
The supermarket giant proposed to snap up an 80% stake in the online marketplace – thereby taking it off the market – in May for an enterprise value of $242.6 million.
MyDeal's shareholders voted in favour of the plan early last month and it was implemented before September was out.
Additionally, Woolworths announced several leadership changes last month.
It revealed the appointment of Daniel Hake to the position of Big W managing director.
It also announced Von Ingram had been appointed to the role of managing director of Woolworths' non-food retail businesses, including Big W, MyDeal, HealthyLife, and PetCulture.
Sadly, none of last month's announcements proved enough to significantly boost the Woolworths share price.
At the end of September, it was 11.75% lower than it started 2022. For comparison, the ASX 200 dumped 14.7% over the first nine months of the year.
