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Cape Town - Woolworths Holdings [JSE:WHL] said on Thursday group sales for the 52 weeks ended June 2016 increased by 16.4% (12.0% excluding David Jones, acquired in August 2014).
The retailer said in a trade update group apparel sales in the second half were impacted by the late start to winter and the unseasonably warm weather experienced across the southern hemisphere.
Woolworths Clothing and General Merchandise sales increased by 8.2%, with a price movement of 6.2%. Sales in comparable stores grew by 4.4%. Net retail space grew by 4.9%.
Woolworths Food sales, including Food Service concessions, increased by 11.9%, with a price movement of 6.7%. Sales in comparable stores grew by 5.7%. Net retail space grew by 9.3%.
On a 52-week basis, David Jones sales, including concession sales, increased by 8.4% in Australian dollar terms. Sales in comparable stores grew by 7.0% and net retail space grew by 3.5%.
Country Road group sales, including sales in South Africa, increased by 5.5% in Australian dollar terms. Sales in comparable stores were 3.9% lower. Net retail space grew by 6.1%, 2.7% of which was space reallocated from other brands in David Jones and, therefore, does not constitute additional space to the Group.
The Woolworths Financial Services debtors' book reflected year-on-year growth of 2.5% at the end of June 2016, with an impairment rate for the twelve months ended 30 June 2016 at 5.7% (2015: 5.4%).
Woolworths also advised that earnings per share (EPS) and headline earnings per share (Heps) for the 52-week period ended June 26 2016 are expected to be higher than for the corresponding period last year.
Included in the earnings for the prior period are costs associated with the acquisitions of David Jones and the minority interest in Country Road Group as well as unrealised foreign exchange gains totalling R444m after tax.
Woolworths advised shareholders on Thursday that the forecast financial information has not been audited, reviewed or reported on by the group's external auditors. The group's yea- end results for the 52-week period are scheduled to be announced on or about August 25 2016.
