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
Related Articles
![](/templates/yootheme/cache/49/Spar_Store_small-49657976.jpeg)
SPAR suffering from a hangover
By: Bianke Neethling – Daily Investor
SPAR experienced a massive drop in profit as the retailer is still dealing with the hangover of system issues in South Africa and inflationary pressures.
![](/templates/yootheme/cache/12/Pick_n_Pay_Store_small-12f49664.jpeg)
Pain for Pick n Pay
By: Drikus Greyling – Daily Investors
Last month, Pick n Pay released its results for the year that ended 25 February 2024. They were disastrous.
![](/templates/yootheme/cache/12/Pick_n_Pay_Store_small-12f49664.jpeg)
Pick n Pay disaster
By: Bianke Neethling – Daily Investor
Pick n Pay reported its worst financial results in its listed history last week following years of mismanagement, but its new CEO has a plan to turn the company around.
![](/templates/yootheme/cache/12/Pick_n_Pay_Store_small-12f49664.jpeg)
Pick n Pay feels the pain – expects over R3 bil...
By: Shaun Jacobs – Daily Investor
In a trading statement for the 52-week period that ended 25 February 2024, Pick n Pay said it expects the company to post a loss of between R3.14 billion and R3.38 billion for the 2024 financial year.&n...
![](/templates/yootheme/cache/1e/Clicks_store-1e683bcc.jpeg)
Clicks reports resilient first-half as earnings...
By Jacqueline Mackenzie - Business Live
The group expects full-year Heps to increase by between 10% and 15%