Woolworths earnings beat estimates as food, clothing sales rise
South African retailer Woolworths Holdings reported full-year profit that beat analyst estimates after food and clothing sales rose.
Diluted headline earnings per share, which exclude one-time items, rose 8.9% to R4.53 in the year ending June 26, the Cape Town-based company said in a statement on Thursday. That compared with the R4.45 average estimate of six analysts. Sales rose 16% to R72.1bn
Woolworths follows Shoprite Holdings as South African retailers reporting increased sales and profit this week, even as slowing economic growth weakens consumer confidence in their home market.
Woolworths also benefited from increased revenue in Australia, where it acquired Sydney-based department-store operator David Jones in 2014.
News Category
- International retailers
- On the move
- Awards and achievements
- Legislation
- Wine and liquor
- Africa
- Going green
- Supplier news
- Research tools
- Retailer trading results
- Supply chain
- Innovation and technology
- Economic factors
- Crime and security
- Store Openings
- Marketing and Promotions
- Social Responsibility
- Brand Press Office
Dis-Chem delivers into its strategic growth dri...
In the six-month period ending 31 August 2024, Dis-Chem reported Group revenue growth of 9.6% to R19.6 billion over the corresponding half year period to 31 August 2023.
Pick n Pay delivers early momentum on its turna...
The Pick n Pay Group’s turnaround strategy is gaining traction with encouraging progress made across a number of key strategic and operational initiatives, including another formidable performance from its Boxer business and an underlying improvem...
Shoprite Group's affordability focus wins with ...
Reviewed results for the 52 weeks ended 30 June 2024 and cash dividend declaration
Woolworths expects 19% cut in full-year earnings
By Jacqueline Mackenzie – BusinessLive
Woolworths expects to report lower earnings for the full year as challenging trading conditions affected consumer discretionary spend across its businesses,
Pick n Pay plunges 16% on JSE as stock adjusts ...
By: Tawanda Karombo – IOL Business Report
Pick n Pay share price dropped by 16% in mid-morning trade on the JSE yesterday (17/07/2024) before narrowing down to a 14.84% just before lunch time, with analysts saying this was in line with the stock ...