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South Africa's Woolworths posts 2.2% rise in 20-week sales

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11/27/2019 | 02:57am EST
A shopper walks to a Woolworths store in Sandton

South African retailer Woolworths Holdings Ltd reported a 2.2% rise in group sales for the 20 weeks ended Nov. 11, as strong performance in its home market offset weakness at its Australian upmarket department store chain, David Jones.

Food sales increased by 8.8% from a year earlier while its South African fashion, beauty and home sales grew by 2.8%, the company said in a statement.

Sales at David Jones for the period declined by 2.1%, weighed down by disruptions at its Elizabeth Street store in Sydney due to refurbishment.

David Jones has been struggling to contend with subdued consumer spending in a slowing Australian economy and pressures faced by department store operators as shoppers switch to online players such as Amazon.com Inc, or speciality fast fashion brick-and-mortar stores like Inditex's Zara.

(Reporting by Tanisha Heiberg; Editing by Aditya Soni)

Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX 0.95% 529.96 Delayed Quote.-2.11%
DOW JONES SOUTH AFRICA(ZAR) -0.97% 1795.08 Delayed Quote.0.48%
INDUSTRIA DE DISEÑO TEXTIL, S.A. -1.56% 31.58 End-of-day quote.0.41%
S&P AFRICA 40 INDEX 0.68% 167.07 Delayed Quote.-3.79%
WOOLWORTHS GROUP LIMITED -0.34% 43.45 End-of-day quote.20.58%
WOOLWORTHS HOLDINGS LIMITED -4.42% 42.4 End-of-day quote.-1.62%
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