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Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1929/001986/06
LEI: 37890095421E07184E97
Share code: WHL
Share ISIN: ZAE000063863
Bond Company code: WHLI
('the Group')
TRADING UPDATE IN RESPECT OF THE 19 WEEKS ENDED 8 NOVEMBER 2026
This announcement provides an update on the Group's trading performance for the 19 weeks ended 8 November
2026 (the 'period') over the comparable 19 weeks ended 9 November 2025 (the 'prior period'). A further
trading update will be released in mid-January 2027, following the festive season trade. We are making good
progress on our identified strategic shifts, which we had outlined in our previous results presentation.
GROUP
The trading environment remains challenging across both South Africa and Australia, as high fuel prices, inflation
and interest rates continue to constrain consumer demand and discretionary spend, with shoppers increasingly
prioritising promotional offerings and essential purchases. Within this context, Group turnover and concession
sales for the period grew marginally by 0.2%, and by 0.1% in constant currency.
WOOLWORTHS
Woolworths South Africa grew turnover and concession sales by 1.6% for the period, reflecting the impact of the
constrained consumer environment.
Within this, our Food business delivered modest turnover and concession sales growth of 1.9%, and 0.1% on a
comparable-store basis. We continued to focus on delivering quality and innovation with convenience and value,
achieving strong growth in newness. Price movement averaged 3.0% for the period, while net trading space
increased by 2.7%, and by 2.1% on a weighted basis. Pleasingly, online sales growth accelerated to 24.1%, and
contributed 9.1% to SA Food sales, as we increased capacity and improved our customer experience. We have
completed the acquisition of in2food on 5 November 2026, following the fulfilment of the suspensive conditions.
This acquisition will support our gross profit margin to offset the dilution from higher fuel prices and online
growth.
Fashion Beauty Home ('FBH') total and comparable store turnover and concession sales declined marginally by
0.3%. Price movement averaged 1.2% over the period, with Fashion deflation at 0.3%. Homeware - a key growth
priority - grew sales by 6.4%, supported by an enhanced offering. Beauty continued to deliver positive growth,
with sales growth of 3.1%, notwithstanding increased competition in this category. FBH online sales grew by
16.1%, contributing 7.0% to SA sales. Our ongoing focus to optimise space productivity and efficiency, resulted
in net trading space decreasing by 0.7% relative to the prior period, and reduced our overall inventory level
relative to last year.
The Woolworths Financial Services book increased by 4.1% on a year-on-year basis to the end of October 2026.
While we remained disciplined in ensuring quality book growth, the deteriorating macroeconomic environment
resulted in a higher impairment coverage. As a result, the annualised impairment rate for the four months ended
31 October 2026 increased to 7.3%, compared to 6.7% in the prior period.
COUNTRY ROAD GROUP ('CRG')
The impact of rising interest rates and the cost of living has negatively impacted consumer sentiment, footfall
and spend, with significant discounting across the retail sector.
CRG sales declined by 9.5% for the period and by 8.2% on a comparable-store basis, with all brands under
pressure. There was no material change to the online contribution to sales compared to the prior period. The
Group remained focus on disciplined trading and driving profitable sales, with improved inventory levels and
reduced markdowns supporting improved margin. The Group also continued to optimise its retail portfolio across
locations, channels and formats, with net trading space decreasing by 2.2% relative to the prior period.
Various Country Road Group brands trade as concessions within David Jones, which has been placed into
administration and receivership. We are in communication with the appointed receivers and managers and are
assessing what this means for the continued trading relationship.
CONSTANT CURRENCY INFORMATION
Constant currency information has been presented to illustrate the impact of changes in the Group's major
foreign currency, the Australian dollar. In determining the constant currency growth rate, turnover and
concession sales denominated in Australian dollars for the period have been adjusted by application of the
aggregated monthly average Australian dollar exchange rate for the prior period. The aggregated monthly
average Australian dollar exchange rate is R11.53 for the period and R11.46 for the prior period. Foreign currency
fluctuations of the Group's rest of Africa operations are not considered material and have therefore not been
applied in determining the constant currency growth rate.
The information contained in this announcement, including constant currency and pro forma information, is
presented in accordance with the JSE Limited Listings Requirements, and has not been audited, reviewed or
reported on by the Group's external auditor. The constant currency and pro forma information is the
responsibility of the Group's directors and has been prepared for illustrative purposes only and, because of its
nature, may not fairly present the Group's financial position, changes in equity, results of operations or cash
flows.
Contact
ZaidManjra@woolworths.co.za (Group Finance Director)
JeanineWomersley@woolworths.co.za (Investor Relations)
InvestorRelations@woolworths.co.za
Cape Town
11 November 2026
JSE Equity and Debt Sponsor
Investec Bank Limited
2
Date: 11/11/2026 07:05:00
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