Woolworths Holdings Limited's subsidiary, Woolworths (Proprietary) Limited,
increased sales in the 52 weeks to June 2001 in its core Textiles and Foods
business by approximately 9.5% (Textiles: 4.5% and Foods: 16.1%)over the
corresponding figure for 2000. The second half of the financial year saw a
slightly better than expected improvement in sales and market share in both
Textiles and Foods.
"The improved sales are a result of our efforts to continuously offer new
and innovative ranges of great quality, value and service and our strategy
to provide improved product availability and more convenient shopping
locations ," said Simon Susman, Chief executive officer of Woolworths
Holdings Limited.
The company's Australian subsidiary, Country Road Limited, today reported
that its sales in Australia had improved in a very tough market. However
sales in the USA had deteriorated markedly, in line with general market .
conditions. As a result of the poor sales in the USA, Country Road Limited
was now anticipating a loss of approximately AUS$8million.
Susman added that despite the loss in Country Road Limited, the improvement
in sales in Woolworths (Proprietary) Limited meant that Woolworths Holdings
Limited did not expect a significant effect on the overall financial results
-ends-
Issued for Woolworths Holdings Limited
Enquires: Simon Susman (021) 407 2700
Dave Moir (021) 407 3554
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