WHL - Woolworths Holdings Limited - Trading update and trading statement
Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 1929/001986/06
Share code: WHL ISIN: ZAE000063863
("Woolworths Holdings" or "the group")
TRADING UPDATE AND TRADING STATEMENT
TRADING UPDATE FOR THE YEAR ENDED 26 JUNE 2011
Group sales increased 9.4% for the year ended 26 June 2011, with sales in
comparable stores up 6.3%.
Clothing sales in South Africa increased 11.5% (9.4% in comparable stores) and
Food sales increased 10.7% (8.4% in comparable stores). General Merchandise
growth was impacted by the rationalisation of the cellular handset business in
the first half of the year. Excluding this rationalisation, General Merchandise
grew 5.2% (5.1% in comparable stores).
SA retail space grew 7.6%, which included 22,850m2 of franchise conversions,
which largely occurred towards the end of the year. Excluding these
conversions, corporate space in South Africa grew 2.1%.
Sales in Australia through the group's Australian subsidiary Country Road
contracted 2% as the Australian retail environment continues to struggle, with
comparable sales down 10.9%. Store expansions and the continued roll out of
Trenery-branded stores resulted in space growth of 9.3% in Australia. Country
Road's South African sales are included in the South African geographic segment
in the table below.
Sales growth Comparable Price
stores sales movement
- Clothing 11.5% 9.4% 3.3 %
merchandise -2.7% -3.5% -6.8%
- Food 10.7% 8.4% 3.0%
Australia AU$ -2.0% -10.9%
Group 9.4% 6.3%
The Woolworths Financial Services closing debtors' book was 4.8% up on last
year. The impairment charge as a percentage of average gross receivables was 1.4
% (2009: 5.1%).
We expect that both earnings per share and headline earnings per share for the
year will be between 20% and 30% higher than the corresponding reporting period.
Shareholders are advised that the financial information contained in this
announcement has not been reviewed and reported on by the group's external
The group's results for the year are due to be released on SENS on or about 25
Ian Moir (Group chief executive officer) on 021 407 2809
Norman Thomson (Group finance director) on 021 407 3337
19 July 2011
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 19/07/2011 08:00:01 Produced by the JSE SENS Department.
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