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Woolworths carves out market share in SA as food and fashion sales jump

| Retailer trading results

Retailer Woolworths has gained market share in its food and fashion businesses in the 20 weeks to November 17, even as its Australian operations continued to underperform.

In SA, food sales jumped 8.8%, with comparable store sales rising 6.5% compared with the 20 weeks to November 11, the company said in an update on Wednesday.

 

The group’s fashion, beauty and home segment grew sales 2.8% during the period, ahead of market share growth as reported by the retail liaison committee for October, the company said.

In Australia, David Jones sales declined 2.1%, with the company saying a store refurbishment contributed to the decline.

Comparable store sales, including online, declined 0.7%, the company said. Country Road sales declined 4.7%.

Woolworths had acquired David Jones in 2014, and the group’s performance has consistently been below expectations.

The group has written down David Jones a number of times, including a 437.4-million Australian dollar (R4.4bn) write-down for its year ended June 2019.

Woolworths, which paid R21.5bn for David Jones, valued that business at about R9.65bn at end-June.

 

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