Woolworths operating group increased sales by 22,8% in the 53 weeks to June 20
compared to a 52 week period last year. The impact of the additional week was
approximately 2,3%. On a comparable store basis to last year sales increased
Textiles sales for the 53 weeks increased by 17.7% against last year and by
12.2% on a comparable stores basis. Food sales for the 53 weeks increased by
28.7% against last year and by 18.7% on a comparable stores basis. All
comparisons reflect the impact of the policy to convert a number of our smalle
corporate stores to franchise stores.
The improved sales results and the market share gained in both Textiles and
Foods reflect our efforts to provide a difference by continuously offering
better quality, innovative goods with improved availability and more convenien
shopping locations. The uplift in clothing sales gives us some confidence tha
we are starting to provide beautiful modern and classic clothing at exceptiona
value on a more consistent basis. Consumer spending remained positive
throughout the period.
The clothing retail environment in Australia remains extremely competitive and
the company's Australian subsidiary, Country Road, is expected to make a small
profit. Their exit from the USA is complete and no further charges have had t
be incurred from this exercise.
Woolworths Holdings annual results for the year ended June 2002 are scheduled
be announced on 22 August 2002.
Contact: Simon N Susman Contact Number: (021) 407-2700
Norman W Thomson Contact Number: (021) 407-3337
Date: 09/07/2002 01:39:07 PM Produced by the JSE SENS Department