Subscribe & Follow

Advertise your job vacancies

Jobs

Woolworths shares fall almost 10% after poor HEPS forecast

16 Jan 2018

Woolworths share price fell as much as 9% to R57.64 on Monday morning after said its interim headline earnings per share (HEPS) were expected to fall as much as 17.5%.

Woolworths shares fall almost 10% after poor HEPS forecast

Woolworths said it expected to report on 22 February that HEPS for the 26 weeks to 24 December declined between 12.5% and 17.5%.

The group's overall sales for the 26 weeks to 24 December grew just 2.5%, failing to keep pace with inflation.

Woolworths' best performer was its South African food section which grew sales 9.4%, while its fashion, beauty and home section suffered a 0.2% decline in sales.

The group expanded the retail space of its food stores by 6.8% from the matching period in 2016. Excluding the added retail space, food sales grew 5.3%.

Woolworths adds Balmain brand

Michelle Gumede 11 Jan 2018

Its fashion, beauty and home section increased its space by 3.6%. Excluding the new space, sales fell 3.4%.

Its Australian department store chain, David Jones, reported a 3.8% decline in total sales. It reduced David Jones's retail space 2.2% during the first half of its financial year.

Its other Australian chain, Country Road, increased sales 5.2%.

Source: BDpro

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za