Woolworths has released a trading update for the 52* weeks that ended on the 30th of June 2013.
Group sales increased by 14.4% for the 52 weeks of the 2014 financial year over the corresponding 52-week period in 2013 (12.7% on a 52:53 weeks basis). Sales in comparable stores grew by 9.1% (52:53 weeks: 7.4%).
Clothing sales in South Africa increased by 10.6% (52:53 weeks: 8.4%), with a price movement of 8.8%. Sales in comparable stores grew by 8.6% (52:53 weeks: 6.4%). Retail space, including stores in the rest of Africa, grew by 5.3% (net of closures and excluding franchise conversions).
Food sales grew by 14.8% (52:53 weeks: 12.7%), with a price movement of 7.9%. Sales in comparable stores grew by 10.7% (52:53 weeks: 8.7%). Retail space, including stores in the rest of Africa, grew by 8.2% (net of closures and excluding franchise conversions).
General merchandise sales grew by 7.1% (52:53 weeks: 5.1%) and by 4.2% (52:53 weeks: 2.3%)Â in comparable stores, with a price movement of 2.6%.
Sales in Australia and New Zealand, including the Witchery Group, increased by 20.3%, in Australian dollar terms. Sales in comparable stores increased by 7.2% and net space, excluding the Witchery Group acquisition, grew 4.2%. The Country Road Group did not have a 53-week period last year. Country Road Group’s South African sales are included in the South African clothing figures.
The Woolworths Financial Services debtors’ book reflected year-on-year growth of 10.8% at the end of June 2014, with the impairment rate, inclusive of collection costs, for the year at 4.8% (2013: 3.0% restated to include collection costs).
The Group’s year end results for the 52-week period to 29 June 2014 are scheduled to be announced on or about 28 August 2014.
* The year ended 29 June 2014 had 52 trading weeks compared to 53 weeks for the year ended 30Â June 2013.
