Woolworths expects to report higher first-half earnings boosted by positive sales growth in all segments of the business, despite the constrained macroeconomic environment in South Africa and Australia. The group expects to report a 7%-12% increase in headline earnings per share (HEPS) to 163.5c-171.1c for the 26 weeks to end-December. Adjusted HEPS, which reflects one-off costs related to the restructure of Country Road Group’s (CRG) operating model in the previous period, as well as unrealised forex losses in the current period, are expected to be 2%-3% lower, the group said in a statement on Thursday.
Group turnover and concession sales for the half-year grew 5.4%, and 6.1% on a constant currency basis, it said. Woolworths South Africa delivered above-market turnover and concession sales growth of 6.8%, despite relatively subdued consumer confidence and spend. The Food business continued to deliver strong turnover and concession sales growth of 7% and 5.2% on a comparable-store basis, with consistent month-on-month market share gains and positive underlying volume growth, supported by the group’s continued focus and investment in its premium food offering.
Revenue through Woolies Dash grew 23%, with the online channel now contributing 7.2% to South African Food sales. Fashion, Beauty and Home turnover and concession sales increased by 6.2% and by 6.4% on a comparable-store basis, supported by improved product availability as a result of the group’s transformational value chain initiatives. “This momentum was maintained over Black Friday and the festive season, with sales growth of 6.1% in the last seven weeks of the period, implying encouraging market share gains over the half and positive underlying volume growth,” it said. The Woolworths Financial Services book increased by 1.8% year on year to end-December 2025, and increased by 2.6% when excluding the sale of part of the legal book.
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