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Woolworths - Clarification: Trading update for the twelve months to 30 June 2005

Release Date: 08/07/2005 10:40
Code(s): WHL
Wrap Text

Woolworths - Clarification: Trading update for the twelve months to 30 June 2005 Woolworths Holdings Limited (Registration number: 1929/001986/06) ISIN: ZAE000063863 JSE Code: WHL ("Woolworths" or "the company") Clarification: Trading update for the twelve months to 30 June 2005 Woolworths operating group increased sales for the twelve months to June 2005 by 15.7% compared to the same period last year. Comparable store sales growth was 9.8%. Clothing and Home grew sales by 11.6% in total and 8.3% in comparable store sales with an average deflation rate of approximately 1% over the period. Food sales grew by 19.5% in total and by 11.4% in comparable store sales with an average inflation rate of approximately 3% over the period. Sales for the Australian subsidiary Country Road, were 9% higher in Australian dollar terms compared to the same period last year with unit sales growth in excess of 30%. Margins have been impacted by significant one-off costs associated with the transition to the new design processes and timetable, as well as higher markdowns taken to clear winter stocks following an unseasonably warm winter. Profit in Country Road is expected to be in line with last year. This statement has not been reviewed or reported on by the company"s external auditors. The group"s results for the year ending 30 June 2005 are expected to be released on SENS on 25 August 2005. Cape Town 8 July 2005 Contact: Simon Susman (Chief Executive Officer) Contact number: 083 252 5696 Norman Thomson (Finance Director) Contact number: 083 251 6354 Cherrie Lowe (Group Company Secretary) Contact number: 083 308 2933 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 08/07/2005 10:40:06 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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