Woolworths Holdings Limited - Trading Update
Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 1929/001986/06
ISIN: ZAE000063863
JSE Code: WHL
("Woolworths")
Trading Update
The retail environment continues to experience solid growth on the back of lower
interest rates, low inflation and real wage growth. For the first four months of
the new financial year, Woolworths operations increased sales by 16.4% compared
to the same period last year, with comparable store sales growth of 10.0%.
Clothing and Home"s sales grew by 11.8% in total and 7.6% in comparable store
sales growth with an average deflation rate of approximately 2.0%. The August
Sale was in-line with expectations and the new summer ranges have been well
received. In Foods sales have continued to exceed expectations with sales growth
of 20.5% in total and 12.1% in comparable stores and an average inflation rate
of approximately 3.5%.
Retail First sales for the Australian subsidiary Country Road were 2.4% higher
in Australian dollar terms for the three-month period ending 30 September in a
competitive trading environment. The improvements in sales volumes continued
during the quarter, with unit sales up more than 25%.
The structural shift in the South African economy is expected to sustain our
country"s economic growth rate however, the possibility of a higher interest
rate could slow down growth in retail. We remain well positioned to deliver
solid growth.
Expansion plans in corporate stores are on track with 4.66% trading space opened
in Clothing and Home over the period, and 6.36% in Food.
A further trading update will be released in early January 2006. The interim
results for the 26-week period to 25 December 2005 are scheduled for publication
in mid-February 2006.
Cape Town
2 November 2005
Contact:
Simon Susman (Chief Executive Officer) Contact number: 083 252 5696
Norman Thomson (Finance Director) Contact number: 083 251 6354
Cherrie Lowe (Group Secretary) Contact number: 083 308 2933
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 02/11/2005 09:56:02 AM Produced by the JSE SENS Department
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