Woolworths Holdings’ (WHL) group sales for the 52 weeks to 24 June 2012 increased by 11.8% over the comparable period in 2011. Sales in comparable stores grew by 7.1%‚ the group said on Tuesday, 17 July 2012.
The group also advised that it expects both earnings per share and headline earnings per share for the 52 week period to 24 June 2012 will be between 20% and 30% higher than the corresponding reporting period last year. Included in both EPS and HEPS is R45m representing unrealised post tax foreign exchange gains that will unwind in subsequent reporting periods.
In a trading statement‚ the group advised that clothing sales in South Africa grew by 12.6% with a price movement of 6.5%. Sales in comparable stores grew by 5.9%.
Food sales grew by 11.9% with price movement of 6.4%. Sales in comparable stores grew by 7.8%.
General merchandise grew by 7.0% and by 4.7% in comparable stores.
Woolworths’ retail space‚ including Africa‚ grew by 3.6% year-on-year‚ net of closures and excluding franchise conversions.
The groups aid that 59 local franchise stores have now been converted to corporate and 16 will remain franchised. Converted franchise stores are treated as non-comparable.
Sales in Australia and New Zealand contracted 2.6% in Australian dollar terms‚ with sales in comparable stores declining by 6.6%. Net space in Australia grew by 1.3%. Country Road’s South African sales are included in the SA clothing segment.
The Woolworths Financial Services debtors’ book reflected year on year growth of 8.3% with the impairment rate for the year at 1.9% compared with 1.4% for the equivalent period last year.
The group’s year end results are scheduled to be announced on or about 23 August.