WHLE - WOOLWORTHS HOLDINGS LIMITED - Trading update and trading statement: 52 weeks ended 25 June 2017 [JSE Securities Exchange - SENS]
Trading update and trading statement: 52 weeks ended 25 June 2017

Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1929/001986/06
Share code: WHL
ISIN: ZAE000063863
(the Group)


Group sales for the 52 weeks ended 25 June 2017 increased by 3.0% compared to the prior year.
Growth in the second half was impacted by increasingly difficult trading conditions, in both South
Africa and Australasia.

Woolworths South Africa's Clothing and General Merchandise sales increased by 1.4%, with price
movement of 6.6%. Sales in comparable stores declined by 0.9%, with retail space growing by a net
2.2%. Growth in the second half of the year was lower, as a result of significant political and
economic upheaval and its impact on the consumer.

Woolworths South Africa's Food sales' growth remained above market throughout the period and
increased by 8.6%, with price movement of 8.4%. Growth in the second half of the year was lower
than in the first half, impacted by lower inflation. Sales in comparable stores grew by 4.6%, with retail
space growing by a net 7.6%.

David Jones' sales increased by 1.0% in Australian dollar terms. The termination of the Dick Smith
electronics concession last year impacted growth by 1.0%. Sales in comparable stores declined by
0.7%, with retail space declining by a net 0.8%. Whilst relevant market share has grown, sales
growth slowed in the second half, as falling consumer confidence resulted in lower footfall.

Country Road Group sales increased by 5.1% in Australian dollar terms and showed a marked
improvement in the second half, notwithstanding the difficult trading conditions. Sales in comparable
stores declined by 0.4%. Retail space declined by a net 1.9%, and the inclusion of newly-acquired
Politix added 3.7%. Country Road's above-market performance reflected the ongoing improvements
to ranges during the year.

The Woolworths Financial Services debtors' book reflected year-on-year growth of 3.3%, with an
impairment rate for the twelve months ended 30 June 2017 of 6.3% (2016: 5.7%).

Shareholders are advised that earnings per share (EPS) for the 52-week period ended 25 June 2017
is expected to be substantially higher than the EPS for the 52-week period ended 26 June 2016
(the prior year), due to the profit on disposal by David Jones of its Market Street property in Sydney,
as well as the benefit of a lower effective tax rate.

Headline earnings per share (HEPS) and adjusted diluted HEPS, which exclude, inter alia, the profit
on disposal referred to above, are expected to be lower than the prior year, as reflected below:

                           2016 reported     2017 expected growth range     2017 expected range
                                 (cents)                            (%)                 (cents)
EPS                                454.2               +20.0% to +30.0%          545.0 to 590.5
HEPS               455.6                -5.0% to -10.0%          410.0 to 432.8
Adjusted diluted HEPS              453.4                -5.0% to -10.0%          408.1 to 430.7

The estimate financial information contained in this announcement has not been audited, reviewed or
reported upon by the Group's external auditors.

The Group's year-end results for the 52-week period ended 25 June 2017 are scheduled to be
announced on the Stock Exchange News Service on or about 24 August 2017.

Reeza Isaacs (Group Finance Director) on 021 407 2464
Ralph Buddle on 021 407 3250

Cape Town
13 July 2017

RAND MERCHANT BANK (A division of FirstRand Bank Limited)


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