Woolworths Holdings Limited
JSE Code: WHL
ISIN Code: ZAE000028288
Woolworths Holdings Limited's Australian subsidiary, Country Road held an Annual
General Meeting today at which Ian Moir, the Chief Executive Officer, updated
the meeting on current trading.
" In relation to our performance for the first quarter of this year, it is
pleasing to note that both sales and profitability are on budget and up on last
year. We have now sold our ranges out to June next year to our wholesale
customers and our main accounts Myer and David Jones gave a very positive
response to those ranges in terms of fashionability, quality and price.
It is a solid indication that the business is back on track and we will continue
to focus our attentions on driving sales and creating a leaner, more effective
business." concluded Moir.
The Australian retail environment has improved slightly with less discounting
activity than last year, but remains highly competitive.
Contact : Norman Thomson, Finance Director on 083 251 6354
Date: 24/10/2002 01:30:18 PM Produced by the JSE SENS Department