Woolworths 52-week sales jump 54.9% y/y

Woolworths expects sales in the 52 weeks to June to jump 54.9% from a year ago...

Excluding the impact of the David Jones deal, group sales grew 12%, the retailer said in a statement on Wednesday.

The JSE-listed group acquired Australia's second-largest department store chain, David Jones, for R21.4bn last year.

Woolworths food sales increased by 13.5%, with a price movement of 7.7%. Sales in comparable stores grew 6.6%. Retail space, including stores in the rest of Africa, grew 10.0%.

General merchandise sales increased by 7.7% and by 5.6% in comparable stores.

Source: BDpro