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A shopper walks past a Woolworths retail store at a mall in Johannesburg, South Africa, March 4, 2026. REUTERS
Sept 2 (Reuters) – South African retailer Woolworths Holdings reported a 5.3% rise in full-year headline earnings on Wednesday as strong online sales in its food division helped counter slower sales growth and higher costs due to the Middle East conflict.
The headline earnings per share (HEPS), a key profit measure in South Africa, rose to 282.3 cents in the 52 weeks ended June 28, from 268.1 cents a year earlier.
Here are some details:
- Annual group turnover and concession sales rose 4.3% to 84.5 billion rand ($5.23 billion), even as growth slowed to 3.3% in the second half as the Iran war affected demand.
- Woolworths said it was increasing its focus on its food business while continuing efforts to improve the performance of Country Road Group, one of the biggest specialty fashion retailers in its second-largest market, Australia, with tighter control on discounts.
- The company said consumer confidence and spending were likely to remain constrained despite moderating fuel prices and inflation.
- The group said profitability in the Fashion, Beauty and Home business was hurt by increased promotional activity, discounting and inventory clearance.
- The retailer increased its total dividend by 5.9% to 199 cents per share.
Reporting by Ankita Bora in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich
