WHL - Woolworths Holdings Limited - Trading update: 20 weeks to 13
Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1929/001986/06
Share code: WHL
TRADING UPDATE: 20 WEEKS TO 13 NOVEMBER 2011
Group sales for the first 20 weeks of the 2012 financial year increased
by 10.3% over the comparable period in 2011. Sales in comparable stores
grew by 7%.
Clothing sales in South Africa grew by 9.5% with a price movement of
6.6%. Sales in comparable stores grew by 5.9%.
Food sales grew by 10.8% with a lower than expected price movement of
3.5%. Sales in comparable stores grew by 7.2%.
General merchandise, which remains impacted by the reduction of the
cellular handset business grew by 3.4% and by 2.5% in comparable stores.
South African retail space, excluding franchise conversions, grew by
2.5%. Franchise store conversions are on track with 50 stores now
converted. A further 8 will be converted during the balance of the year
and 17 stores will remain franchised. Converted franchise stores are
treated as non-comparable.
Sales in Australia (A$) contracted by 0.8% with sales in comparable
stores declining by 4.5%. Space in Australia grew by 4.9%. Country
Road's South African sales are included in the South African clothing
The Woolworths Financial Services debtors' book reflected year on year
growth of 3.9% at the end of October 2011. The impairment rate for the
four months to October 2011 was 1.74% compared with 2.70% for the
equivalent period last year.
The external auditors have not reviewed and reported on the information
provided in this update and it does not constitute an earnings forecast.
The Group's interim results for the 26 week period to 25 December 2011
are scheduled to be announced on or about the 16 February 2012.
Ian Moir (Group chief executive officer) on 021 407 2809
Norman Thomson (Group finance director) on 021 407 3337
17 November 2011
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17/11/2011 09:30:01 Produced by the JSE SENS Department.
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