South African retailer Woolworths posts Q3 FY21 sales of R16.5 bn

Woolworths Holdings Limited (WHL), a South African retail company, reported 0.4 per cent sales growth to R16.5 billion (rand) in its third quarter (Q3) of fiscal 2021 ended on April 4, 2021, compared to the sales of R16.4 billion in the same period prior fiscal. The company’s e-commerce sales during Q3 FY21 rose 64.2 per cent to R1.3 billion.

 

Woolworths Holdings Limited (WHL), a South African retail company, reported 0.4 per cent sales growth to R16.5 billion (rand) in its third quarter (Q3) of fiscal 2021 ended on April 4, 2021, compared to the sales of R16.4 billion in the same period prior fiscal. The company's e-commerce sales during Q3 FY21 rose 64.2 per cent to R1.3 billion.#

“There were two very distinct trading periods in Q3; the first seven weeks before we began to cycle COVID and the second six weeks as we cycled the peak growth of the prior year. Group sales growth was strong in the first seven weeks of the quarter. For the final six weeks, food and drinks sales declined on the prior year as expected, BIG W remained strong, and Hotels’ sales growth started to recover as it cycled closures at the end of Q3 in the prior year,” Brad Banducci, Woolworths Group CEO, said in a press release.

 

Woolworths Holdings Limited (WHL), a South African retail company, reported 0.4 per cent sales growth to R16.5 billion (rand) in its third quarter (Q3) of fiscal 2021 ended on April 4, 2021, compared to the sales of R16.4 billion in the same period prior fiscal. The company's e-commerce sales during Q3 FY21 rose 64.2 per cent to R1.3 billion.#

“In Australian Food, WooliesX e-commerce sales increased by 90.5 per cent to $878 million with penetration of 7.9 per cent compared to 4.1 in the prior year and 7.7 per cent in H1 F21. Comparisons to Q3 F20 have been favourably impacted by the disruption to some e-commerce services following unprecedented demand last year. However, we estimate that e-commerce sales growth would still have exceeded 70 per cent on a normalised basis,” Banducci added.

 

Woolworths Holdings Limited (WHL), a South African retail company, reported 0.4 per cent sales growth to R16.5 billion (rand) in its third quarter (Q3) of fiscal 2021 ended on April 4, 2021, compared to the sales of R16.4 billion in the same period prior fiscal. The company's e-commerce sales during Q3 FY21 rose 64.2 per cent to R1.3 billion.#

“Customer digital engagement remains a priority. Average weekly traffic to Woolworths’ digital assets increased by 48 per cent to 12.4 million visits per week,” Banducci said. “We also recently announced an increase in Woolworths Group’s ownership of Quantium to 75 per cent. The increased investment will reshape the way that Woolworths Group and Quantium partner and is a very important step in the evolution of the Group’s advanced analytics strategy. A new business, Q-Retail, will be established to deliver the Group’s advanced analytics roadmap and commercialise products externally.”