Trading update and trading statement: 26 weeks ended 25 December 2016
Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1929/001986/06
Share code: WHL
TRADING UPDATE AND TRADING STATEMENT: 26 WEEKS ENDED 25 DECEMBER 2016
Group sales for the first 26 weeks of the 2017 financial year increased by 6.7% compared to the prior
Woolworths Clothing and General Merchandise sales increased by 3.5%. Price movement was 7.3%.
Sales in comparable stores grew by 1.2% and retail space grew by a net 2.9%.
Woolworths Food sales increased by 9.5%, with price movement of 9.2%. Sales in comparable stores
grew by 5.6% and retail space grew by a net 7.9%.
David Jones' growth was affected by the timing of Boxing Day, which falls into the second half of this
year as well as last year's termination of the Dick Smith electronics concession. This negatively
impacted sales growth by 2.7% and 1.6% respectively. Adjusting for both, sales were 4.0% higher
than the prior year, in Australian dollar terms. Retail space grew by a net 3.4%.
Country Road Group sales was also negatively impacted by the timing of Boxing Day and positively by
the inclusion of Politix sales post acquisition (-1.1% and +1.8% respectively). Adjusting for both, sales
were 0.9% lower than the prior year in Australian dollar terms. Retail space, excluding Politix, grew by
a net 2.2%.
The Woolworths Financial Services debtors' book reflected year-on-year growth of 2.3% at the end of
December 2016, with an annualised impairment rate for the six months ended 31 December 2016 of
5.9% (six months ended 31 December 2015: 4.8%).
Shareholders are advised that earnings per share (EPS) for the 26-week period ended 25 December
2016 are expected to be substantially higher than EPS for the 26-week period ended 27 December
2015, due to the profit on disposal by David Jones of its Market Street property in Sydney. Headline
earnings per share (HEPS) and adjusted diluted headline earnings per share (adHEPS) for the period
are expected to be lower than the prior period, as reflected below:
2015 reported 2016 expected growth 2016 expected range
(cents) range % (cents)
EPS 253.7 30.0% to 40.0% 329.8 to 355.2
HEPS 253.5 -2.5% to -7.5% 234.5 to 247.2
adHEPS 250.8 0% to -5.0% 238.3 to 250.8
The forecast financial information contained in this announcement has not been audited, reviewed or
reported upon by the Group's external auditors.
The Group's interim results for the 26-week period ended 25 December 2016 are scheduled to be
announced on the Stock Exchange News Service on or about 16 February 2017.
Reeza Isaacs (Group Finance Director) on 021 407 2464
Ralph Buddle on 021 407 3250
12 January 2017
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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