Woolworths sales up 47.5% - CNBC Africa

Woolworths sales up 47.5%


by Trust Matsilele 0

Woolworths sales up 47.5 per cent for 20 weeks to 16 November 2014. PHOTOS: wikimedia/bnreport

The company in its trading update also reported an 11.9 per cent sales growth excluding the impact of David Jones.

David Jones sales are included from the effective date of the acquisition on 1 August 2014.

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

“Clothing sales in South Africa increased by 8.8 per cent and by 3.4 per cent in comparable stores, notwithstanding a significantly lower clearance sale in August,” Woolworths said in a statement.

“Retail space, including stores in the rest of Africa, grew by 7.1 per cent.”

The leading retailer reported general merchandise sales increase of 7.2 per cent and by 2.6 per cent in comparable stores.

[DATA WHL:Woolworths Holdings Limited] saw a surge in food sales by 13.3 per cent, with a price movement of 9.3 per cent.

“Retail space, including stores in the rest of Africa, grew by 11.1 per cent (net of closures and excluding franchise conversions),” added the group.

(READ MORE: S.Africa’s Woolworths lifts FY profit by 10%)

“Country Road Group sales in Australia and New Zealand rose by 7.9 per cent, in Australian dollar terms.”

“Sales in comparable stores grew by 5.8 per cent and net space grew by 5.1 per cent. Country Road Group’s South African sales are included in the South African clothing figures.”

The group added that for comparability, sales increased by 1.6 per cent, in Australian dollar terms.

The group’s Financial Services debtors’ book reflected year-on-year growth of 9.4 per cent at the end of October 2014, with the annualised impairment rate for the four months to 31 October 2014 at 5.2 per cent (four months to 31 October 2013: 5.0 per cent).