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WHL - Woolworths Holdings Limited - Trading update, trading statement and appointment of director Woolworths Holdings Limited (Incorporated in the Republic of South Africa) Registration number: 1929/001986/06 Share code: WHL ISIN: ZAE000063863 ("Woolworths Holdings", "the company" or "the group") TRADING UPDATE, TRADING STATEMENT AND APPOINTMENT OF DIRECTOR TRADING UPDATE FOR THE 26 WEEKS ENDED 26 DECEMBER 2010 Woolworths Holdings group sales increased by 9.8% for the 26 weeks to 26 December 2010 ("the period") compared to the same period last year. Comparable store sales growth for the period was 5.9%. Sales growth Comparable Price Growth in space 26 weeks to 26 stores sales movement December growth Woolworths 10.5% 7.7% - Clothing and 8.1% 5.7% 1.4% 2.8% general merchandise - Food 11.8% 9.1% 3.0% 3.7% Country Road 3.1% -9.9% 12.1% AU$ Group 9.8% 5.9% Clothing sales in SA grew11.5% on the prior year (9.2% in comparable stores). General Merchandise sales were impacted by the decision to materially downsize our previously unprofitable Connect business. The Woolworths Financial Services closing debtors` book remained at the same level as last year. The impairment charge as a percentage of average gross receivables was 1.6% (2009: 6.2%). TRADING STATEMENT We expect that both earnings per share ("EPS") and headline earnings per share ("HEPS") for the period will be between 17% and 20% higher than the corresponding period in the 2010 financial year. Our effective tax rate has increased as we resume paying STC on distributions. Adjusted headline earnings per share, will be between 24% and 27% higher than the corresponding period, due to the exclusion of the abnormal foreign exchange gain in the previous year. Shareholders are advised that the financial information contained in this announcement has not been reviewed and reported on by the group`s external auditors and it does not constitute an earnings forecast. The group`s results for the period are due to be released on SENS on or about 17 February 2011. APPOINTMENT OF DIRECTOR The board of Woolworths Holdings is pleased to announce that Sir Stuart Rose has been appointed as a director of the company, in a non-executive capacity, with effect from 19 January 2011. Sir Stuart brings strong international retail experience to the board. He has held a number of senior leadership roles in retail in the United Kingdom. Sir Stuart relinquished the position as Chief Executive Officer of Marks and Spencer in July 2010 and retired as its Chairman on 4 January 2011. Contact: Ian Moir (Group chief executive officer) on 021 407 2809 Norman Thomson (Group finance director) on 021 407 3337 Cherrie Lowe (Group secretary) on 021 407 3160 Cape Town 20 January 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 20/01/2011 08:00:04 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.
