Business In The News South Africa

Woolworths says group sales up 2.5 pct in first 26 weeks of 2018 financial year

JOHANNESBURG, January 15 – South African retailer Woolworths Holdings Limited said on Monday group sales for the first 26 weeks of the 2018 financial year increased by 2.5 percent over the previous period.
The company said in South Africa, Woolworths Fashion, Beauty and Home sales decreased by 0.2 percent , with comparable store sales 3.4 percent lower, while Woolworths Food sales increased by a market-leading 9.4 percent, against a 5.3 percent rise in comparable store sales.
“In Australia, David Jones’ sales performance improved in the last 6 weeks of the half, with sales increasing by 0.6% in comparable stores,” the company said.
“For the half year sales were 3.3% lower on a comparable basis and 3.8% lower in total, which is an improvement on the 20 week performance.”
Country Road Group sales increased by 5.2 percent, against a 1 percent decline in comparable stores.
Woolworths said headline earnings per share for the 26-week period ended December 24, 2017 were expected to be 12.5 to 17.5 percent lower at between 200.1 and 212.3 cents, compared with 242.6 cents in 2016.
The Group’s interim results for the 26-week period ended 24 December 2017 are scheduled to be announced on or about February 22.
– African News Agency (ANA),

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