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Economy

SA's Woolworths flags lower half-year profit on weak clothing sales

Date: Jan 28, 2025

South African (SA) upmarket retailer Woolworths Holdings flagged a decline of up to 27% in its first-half profit on Tuesday due to weaker-than-expected performances of its clothing businesses at home and in Australia and New Zealand.

Woolworths, which also owns food stores in SA, said its headline earnings per share were expected to decline by 22% to 27% for the 26 weeks ended December 29 from 203.3 cents in the prior period ended December 24, 2023.

--Reuters--