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Woolies sales up 16%

Nov 15 2012 11:32 I-Net Bridge

Company Data

WOOLWORTHS HOLDINGS LIMITED [JSE:WHL]

Last traded 70.67
Change 0.97
% Change 0.01
Cumulative volume 2593465
Market cap 59.86bn

Last Updated: 24/04/2014 at 03:54. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Woolworths Holdings [JSE:WHL] on Thursday said group sales for the first 20 weeks of the 2013 financial year increased by 15.9% over the comparable period in 2012. Sales in comparable stores grew by 9.9%.

Clothing sales in SA grew by 13.7% with a price movement of 5.8%. Sales in comparable stores grew by 8.2%‚ the retailer said.

Meanwhile‚ food sales grew by 11.2% with a price movement of 7.3%‚ and sales in comparable stores grew by 7.8%.

“General merchandise grew by 11.5% and by 9.5% in comparable stores‚” the company said.

Woolworths’s retail space‚ including stores in the rest of Africa‚ grew by 5.2%‚ net of closures and excluding franchise conversions.

Sales in Australia and New Zealand increased 36.9%‚ in Australian dollar terms. Witchery and Mimco’s sales are included from the effective date of the acquisition on September 30.

“Sales in comparable stores increased by 12.2% and net space‚ excluding the acquisition‚ contracted 2.1%. Country Road’s South African sales are included in the South African clothing‚” Woolworths said.

The Woolworths Financial Services debtors’ book reflected year-on-year growth of 10.9% at the end of October‚ with the impairment rate for the four months to October at 1.8%.

The group’s interim results for the 26-week period to December 23 are scheduled to be announced on or about February 14.

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