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Reuters
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Jan 15, 2015
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S.Africa's Woolworths H1 sales rise 55 pct, shares up

By
Reuters
Published
Jan 15, 2015

JOHANNESBURG, South Africa - South African high-end retailer Woolworths Holdings reported a 55 percent jump in sales over the first half of the year after receiving a boost from its acquisition of Australian department store David Jones.

Woolworths, which sells products similar to those of Britain's Marks and Spencer, said that without including the impact of David Jones, whose acquisition was effective in August 2014, group sales grew by 12.5 percent.

Clothing sales in its home market rose by 9.4 percent, food increased by more than 14 percent and general merchandise was up 8.3 percent in the 26 weeks to December 28.

Other South African retailers also reported growth in revenue this week. Massmart Holdings, the South African unit of Wal-Mart Stores Inc, said on Wednesday annual sales had risen over 10 percent.

Shoprite Holdings said sales grew 12.5 percent in the six months to end-December after a strong festive season performance.

Woolworths shares were up 3.7 percent at 78.47 at 0750 GMT.

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