Woolworths Holdings Limited
(Registration number : 1929/001986/06)
ISIN : ZAE000028288
JSE Code : WHL
Woolworths operating group
Woolworths operating group increased sales by 15.3% for the 2004 financial year
which ended on 30 June 2004.
Clothing & Home recorded sales growth of 12% whilst sales in comparable stores
increased by 9%.An excellent performance was achieved in womenswear which
continued to gain market share. Homeware continued to show signs of improvement
with pleasing sales growth in the last quarter of the year. Average inflation
for the period in corporate stores was 6.9% and was significantly lower in the
second half of the financial year.
Food sales growth of 19.2% benefited from customers using Woolworths more as
their main food shop with comparable stores increasing sales by 7.8%. Average
inflation for the period in corporate stores totalled 6.4% and dropped
consistently each month to 4.4% in the month of June 2004.
Country Road Limited
Country Road sales for the year ended 30 June 2004 declined by -6.5% in
Australian dollar terms mainly due to the decision to enter an exclusive
arrangement with one major wholesale customer. Retail sales for the six months
ended 30 June 2004 were up 3.2% in Australian dollar terms on the same period
The above information has not been reviewed and reported on by the group's
The group has embarked on a process to evaluate alternatives in order to
optimise its balance sheet structure. In the event of such a restructure the
board will consider how it wishes to dispose of surplus funds which may result
from this process.
The annual results of the group for the year ended 30 June 2004 are expected to
be released on 19 August 2004.
13 July 2004
Contact: Simon Susman (Chief Executive Officer) Contact number: (021) 407-2700
Norman Thomson (Finance Director) Contact number: (021) 407-3337
Date: 13/07/2004 12:03:56 PM Produced by the JSE SENS Department