Woolworths group sales rises 14.4% - CNBC Africa

Woolworths group sales rises 14.4%


by admin 0

Woolworths' year end results are set to be released. PHOTO: Woolworths

[DATA WHL:Woolworths Holdings Limited] clothing sales in South Africa grew by 10.6 per cent with a price movement of 8.8 per cent while sales in comparable stores rose by 8.6 per cent. Stores in the rest of Africa including retail space grew by 5.3 per cent.

(READ MORE: Woolworths turnover up 23.2 per cent from strong sales)

Food sales on the other hand increased by 14.8 per cent with a price movement of 7.9 per cent while general merchandise sales grew by 7.1 per cent and by 4.2 per cent in comparable stores with a price movement of 2.6 per cent.

In its Australian and New Zealand businesses including the Witchery Group, sales increased by 20.3 per cent in Australian dollar terms while the Witchery Group acquisition rose by 4.2 per cent. Woolworths initially bought the retail company for 15 million rand.

Woolworths also announced on Thursday that the Federal Court of Australia has approved their acquisition of Australian department store retailer, David Jones.

“Implementation of the Acquisition is expected to occur on or about Friday, 1 August 2014 after which David Jones will become a wholly owned subsidiary of Woolworths Holdings Limited,” said the company in a statement.

(READ MORE: Woolworths to acquire Australia’s David Jones)

The group’s year end results for the 52 week period to 29 June 2014 are set to be released on the 28 August 2014.