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Woolworths Holdings Limited - Trading Update

Release Date: 02/11/2005 09:56
Code(s): WHL
Wrap Text

Woolworths Holdings Limited - Trading Update Woolworths Holdings Limited (Incorporated in the Republic of South Africa) Registration number: 1929/001986/06 ISIN: ZAE000063863 JSE Code: WHL ("Woolworths") Trading Update The retail environment continues to experience solid growth on the back of lower interest rates, low inflation and real wage growth. For the first four months of the new financial year, Woolworths operations increased sales by 16.4% compared to the same period last year, with comparable store sales growth of 10.0%. Clothing and Home"s sales grew by 11.8% in total and 7.6% in comparable store sales growth with an average deflation rate of approximately 2.0%. The August Sale was in-line with expectations and the new summer ranges have been well received. In Foods sales have continued to exceed expectations with sales growth of 20.5% in total and 12.1% in comparable stores and an average inflation rate of approximately 3.5%. Retail First sales for the Australian subsidiary Country Road were 2.4% higher in Australian dollar terms for the three-month period ending 30 September in a competitive trading environment. The improvements in sales volumes continued during the quarter, with unit sales up more than 25%. The structural shift in the South African economy is expected to sustain our country"s economic growth rate however, the possibility of a higher interest rate could slow down growth in retail. We remain well positioned to deliver solid growth. Expansion plans in corporate stores are on track with 4.66% trading space opened in Clothing and Home over the period, and 6.36% in Food. A further trading update will be released in early January 2006. The interim results for the 26-week period to 25 December 2005 are scheduled for publication in mid-February 2006. Cape Town 2 November 2005 Contact: Simon Susman (Chief Executive Officer) Contact number: 083 252 5696 Norman Thomson (Finance Director) Contact number: 083 251 6354 Cherrie Lowe (Group Secretary) Contact number: 083 308 2933 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 02/11/2005 09:56:02 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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