for subscribers

Woolworths earnings beat estimates as food, clothing sales rise

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
Woolworths. (Duncan Alfreds, News24)
Woolworths. (Duncan Alfreds, News24)

Johannesburg - South African retailer Woolworths Holdings [JSE:WHL] reported full-year profit that beat analyst estimates after food and clothing sales rose.

Diluted headline earnings per share, which exclude one-time items, rose 8.9% to R4.53 in the year ending June 26, the Cape Town-based company said in a statement on Thursday. That compared with the R4.45 average estimate of six analysts. Sales rose 16% to R72.1bn

Woolworths follows Shoprite Holdings as South African retailers reporting increased sales and profit this week, even as slowing economic growth weakens consumer confidence in their home market.

Woolworths also benefited from increased revenue in Australia, where it acquired Sydney-based department-store operator David Jones in 2014.

Read Fin24's top stories trending on Twitter:

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.20
(-0.63)
ZAR/GBP
20.32
(-0.45)
ZAR/EUR
18.12
(-0.61)
ZAR/AUD
11.20
(-0.65)
ZAR/JPY
0.15
(-0.78)
Gold
1809.97
(+0.12)
Silver
23.29
(-0.15)
Platinum
963.00
(+0.40)
Brent Crude
48.73
(+1.57)
Palladium
2368.48
(+2.46)
All Share
57923.69
(+0.31)
Top 40
53084.13
(+0.27)
Financial 15
11645.28
(+0.04)
Industrial 25
79993.34
(+0.20)
Resource 10
52790.93
(+0.35)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
22% - 340 votes
No, I did not.
51% - 804 votes
My landlord refused
28% - 436 votes
Vote