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WHL - Woolworths Holdings Limited - Trading Update For The Twenty Six Weeks To

Release Date: 17/01/2008 08:30
Code(s): WHL
Wrap Text

WHL - Woolworths Holdings Limited - Trading Update For The Twenty Six Weeks To December 2007 Woolworths Holdings Limited (Incorporated in the Republic of South Africa) Registration number: 1929/001986/06 Share code: WHL & ISIN: ZAE000063863 ("Woolworths Holdings" or "the group") TRADING UPDATE FOR THE TWENTY SIX WEEKS TO DECEMBER 2007 Woolworths Holdings increased sales by 16.1% for the twenty six weeks to 23 December 2007, compared to the same period last year. Comparable store sales growth was 8.5%. In Woolworths retail, clothing and general merchandise grew sales by 7.3% in total and 4.7% in comparable stores with an average inflation rate of approximately 9.6% over the period. Food sales grew by 18.8% in total and by 9.7% in comparable stores with an average inflation rate of approximately 12.1% over the period. This financial year has 53 trading weeks and as such it is important to note that the key trading day of 24th December falls in the second half of the financial year. Trading space had increased by 4.9% in clothing and general merchandise and 13.1% in food as at 31 December 2007, compared to the prior year. Woolworths financial services grew its combined books by approximately 13.0%. The growth rate has reduced in recent months due to the implementation of the National Credit Act and reduced demand for credit and net bad debts have accelerated since the beginning of the financial year. Country Road grew total sales by 35.0% in Australian dollar terms. Retail sales, excluding concession sales, grew by 21.5% in Australian dollars and by 16.5% in comparable stores compared to the prior year. The sales figures reported on above have not been audited by the group`s external auditors. The group`s results for the half year ended 31 December 2007 are expected to be released on SENS on 21 February 2008. Contact: Simon Susman (Chief executive officer) on 021 407 2700 Norman Thomson (Finance director) on 021 407 3337 Cherrie Lowe (Group secretary) on 021 407 3160 Cape Town 17 January 2008 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 17/01/2008 08:30:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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