Retailers News South Africa

Woolworths shares fall almost 10% after poor HEPS forecast

Woolworths share price fell as much as 9% to R57.64 on Monday morning after said its interim headline earnings per share (HEPS) were expected to fall as much as 17.5%.
Woolworths shares fall almost 10% after poor HEPS forecast

Woolworths said it expected to report on 22 February that HEPS for the 26 weeks to 24 December declined between 12.5% and 17.5%.

The group's overall sales for the 26 weeks to 24 December grew just 2.5%, failing to keep pace with inflation.

Woolworths' best performer was its South African food section which grew sales 9.4%, while its fashion, beauty and home section suffered a 0.2% decline in sales.

The group expanded the retail space of its food stores by 6.8% from the matching period in 2016. Excluding the added retail space, food sales grew 5.3%.

Woolworths adds Balmain brand
Woolworths adds Balmain brand

  11 Jan 2018

Its fashion, beauty and home section increased its space by 3.6%. Excluding the new space, sales fell 3.4%.

Its Australian department store chain, David Jones, reported a 3.8% decline in total sales. It reduced David Jones's retail space 2.2% during the first half of its financial year.

Its other Australian chain, Country Road, increased sales 5.2%.

Source: BDpro

Source: I-Net Bridge

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