November 28, 2022

Y M L P-211

Business – Once You

Woolworths annual sales helped by second-half improvement

Woolworths mentioned on Tuesday annual turnover rose by 1.4%, helped by an enhanced second fifty percent of the yr as lockdown restrictions eased, in particular in Australia and New Zealand.

Its South African vogue attractiveness and residence business grew turnover and concession income in the 52 months finished June 26 by 5.4%, supported by new winter season ranges, sector share gains in its types these types of as denim, and a more robust efficiency from the rest of Africa, Woolworths explained in a investing update.

Food items sales grew by 4.2%, reflecting the return to out-of-home consumption, an increasingly competitive grocery setting and lower item inflation across crucial types, it claimed.

In Australia and New Zealand, upmarket division chain David Jones and trend chain Nation Street Group reported a better-than-envisioned rebound in income in the second 50 % as limitations eased in the location.

In the first 50 %, authorities-enforced restrictions throughout the location essential the closure of stores symbolizing a lot more than 70% of its brick-and-mortar sales foundation for an extended period.

David Jones’ product sales grew by 4.3% in the second 50 %, submit the easing of lockdown limitations but dipped by 2.6% for the comprehensive 12 months ended June 26.

Region Street on the other hand grew comprehensive-year sales by 3.1%, “driven generally by a robust overall performance from the Nation Highway, Trenery and Politix makes, subsequent the successful launch of new ranges and the ongoing target on brand name and product positioning,” Woolworths explained.

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