Woolworths Holdings FY20 sales remain flat at R78 bn

Woolworths Holdings Ltd (WHL), a South African multinational retail company, has announced its full year results for fiscal 2020 ended on June 28. Sales for FY20 remained flat at R78.2 billion (FY19: R78.3 billion). Fashion Beauty and Home performance in second half of FY20 was severely impacted by stores closure and lockdown related restrictions on trade.

 

Woolworths Holdings Ltd (WHL), a South African multinational retail company, has announced its full year results for fiscal 2020 ended on June 28. Sales for FY20 remained flat at R78.2 billion (FY19: R78.3 billion). Fashion Beauty and Home performance in second half of FY20 was severely impacted by stores closure and lockdown related restrictions on trade.#

“The challenges posed by the crisis galvanised our teams to work together as we successfully implemented numerous initiatives to stabilise our operations and cash flows and strengthen our balance sheet. It is imperative though, that we to actively learn from this crisis and reassess our strategies, particularly in the context of a fast-evolving customer shopping ecosystem where we’re seeing an accelerated shift to online and accentuated levels of digital engagement with our customers,” Roy Bagattini, WHL Group CEO, said in a press release.

 

Woolworths Holdings Ltd (WHL), a South African multinational retail company, has announced its full year results for fiscal 2020 ended on June 28. Sales for FY20 remained flat at R78.2 billion (FY19: R78.3 billion). Fashion Beauty and Home performance in second half of FY20 was severely impacted by stores closure and lockdown related restrictions on trade.#

Gross profit for the year fell 7.8 per cent to R25.3 billion (R27.4 billion). Other revenue for FY20 dropped to R1.7 billion (R1.9 billion). 

 

Woolworths Holdings Ltd (WHL), a South African multinational retail company, has announced its full year results for fiscal 2020 ended on June 28. Sales for FY20 remained flat at R78.2 billion (FY19: R78.3 billion). Fashion Beauty and Home performance in second half of FY20 was severely impacted by stores closure and lockdown related restrictions on trade.#

Woolworths Fashion, Beauty and Home segment fell 59.5 per cent to R683 million (R1.6 billion). Woolworths Food turnover and concession sales increased 10.7 per cent for the year benefited from the changes in customer buying behaviour. However, David Jones turnover and concession sales declined 6.4 per cent partly mitigated by the significant shift to online, which saw the channel growing 100 per cent in H2 and contributing 18.4 per cent to sales. Country Road Group sales were R401 million (R1.0 billion).