Woolworths Holdings Limited
CHAIRMAN'S STATEMENT
TO THE ANNUAL GENERAL MEETING
HELD ON
WEDNESDAY, 21 NOVEMBER 2001
Group sales to the end of October have been satisfactory other than in the
USA.
In Woolies our summer textiles range has been well received. Improved
quality, better availability of core lines and a modernised co-ordinated
look in ladieswear in particular has been well received by our customers.
Our foods strategy to provide improved availability, convenience and
constant innovation continues to prove successful and our foods sales are
better than we expected.
Our financial services business is growing and our card sales are
contributing a substantial portion of our total business sales.
We have expanded our franchise operation in the Middle East with additional
stores opening in the United Arab Emirates and Oman.
Sales at Country Road in Australia have been moderate and affected by poor
market conditions and the events of 11 September 2001. The situation in USA
is more difficult and sales have been extremely volatile. A strategic
review of the USA operation is being carried out and is expected to be
completed at the end December 2001.
While Woolworths sales to date have been satisfactory, we are expecting a
slow down in the major economies to have some effect on performance. We are
planning forward sales conservatively.
END
Contact: Simon Susman : Chief executive officer - 083 252 5696
Cherrie Lowe : Head of Corporate Governance - 083 308 2933
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