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Woolworths - trading statement and update
Trading update
Group
The Group's results to be reported for the 52 weeks ended 29 June 2025 (the "period") are not directly comparable to that of the 53 weeks ended 30 June 2024 ("prior period"), due to an additional week of trade in the prior period.
Group turnover and concession sales increased by 6.1% and by 6.8% on a constant currency basis for the period, and by 6.4% and 7.3% in the comparable second half of the period ("H2") respectively, notwithstanding challenging macroeconomic conditions across both geographies, and significant levels of uncertainty arising from global trade relations.
Woolworths
In South Africa, consumer sentiment and discretionary spend remains subdued, despite moderating inflation and interest rate cuts. Notwithstanding this constrained macro backdrop, Woolworths South Africa delivered strong turnover and concession sales growth of 9.4% for the period, with H2 growth of 9.8%.
Within this, our leading Food business continued to deliver above-market turnover and concession sales growth of 11.0% and 7.7% on a comparable-store basis. Price movement for the period averaged 5.3%, with positive underlying volume growth driven by increased footfall and average basket size, supported by our ongoing innovation and enhanced customer experience. Excluding Absolute Pets, which was acquired in the fourth quarter of the prior period, Food sales increased by 9.2%. Sales growth in H2 was 10.6% (9.4% excluding Absolute Pets), with price movement of 4.2%. Trading space increased by 2.4% on the prior comparable period. Our on- demand Woolies Dash offering grew by 41.6%, with overall online sales increasing by 32.9% and contributing 6.6% to total Food sales.
Fashion, Beauty and Home ("FBH") turnover and concession sales increased by 4.7% and by 5.1% on a comparable-store basis. Trading momentum improved throughout the period, delivering H2 sales growth of 7.0%, through improved product availability, as the product flow challenges experienced in the first half were resolved. Price movement averaged 2.2% over the period (H2: 3.1%), incorporating Fashion inflation of 0.4% (H2: 1.4%) with positive underlying volume growth supported by higher sell-through rates. Our Beauty business continues to gain market share, delivering excellent growth of 14.7% over the period and reaffirming Woolies as the Beauty shopping destination in South Africa. As part of our strategy to optimise space efficiency, net trading 1 space decreased by 2.3% relative to the prior comparable period, whilst online sales increased by 22.8% and contributed 6.6% to total FBH sales.
Country Road Group
Following its successful separation from David Jones, CRG completed a significant restructure during the period to reconfigure its operating model and reset its structural economics as a standalone business. This transformation was undertaken in an accelerated timeframe and within a particularly unconducive macro backdrop whereby sustained pressure from high interest rates and living costs continued to impact consumer footfall and spend. Within this context, and the resultant impact of short-term business disruption, sales declined by 5.4% for the period and by 6.8% on a comparable-store basis. Trade performance in the fourth quarter improved significantly, declining by a lesser 0.3% on the prior comparable period, with sales for H2 declining by 4.5%.
Trading statement
- Earnings per share are expected to be between 263.4c per share and 277.3c per share (2024: 277.3c per share), representing a decrease of between 0% and 5%; and
- Headline earnings per share are expected to be between 257.2c per share and 274.8c per share (2024: 352.3c per share), representing a decrease of between 22% and 27%.
The Group's year-end results are expected to be released on or about 3 September 2025.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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