Woolworths business units retreat as headwinds compound
Multinational retailer Woolworths released its half-year financials, with most business units moving in the wrong direction.
Multinational retailer Woolworths released its half-year financials, with most business units moving in the wrong direction.
Three trading weeks in and it’s been an interesting start to 2022. The US-indices, specifically the tech focused Nasdaq, have struggled.
Woolworths announced an update that was worse than expected, with headline earnings (the primary indicator of performance) falling by 40%.
The Financial Sector Conduct Authority (FSCA) suspended the exchange licence of JSE competitor ZAR X on Friday for non-compliance with the Financial Markets Act.
Woolworths food shines whilst its apparel and beauty units continue to underperform, a recurring theme since the acquisition of David Jones.
SA’s leading hedge fund manager Jean-Pierre Verster dissects Pick n Pay’s results and gives a high-level analysis of the food retail sector.
Cosatu attacked the party for delays in securing Covid-19 vaccines and failing to provide income support for workers affected by the pandemic.
Woolworths Group sales for the 26 weeks ended 27 December 2020 increased by 5.3% compared to the prior period.
After its three-day monetary policy committee (MPC) meeting, the central bank decided to keep the repo rate unchanged at 3.5%.
Woolworths investors cheered the news that CEO Ian Moir will step down in a month’s time, sending the share price up almost 10%.