Subscribe & Follow
Advertise your job vacancies
Trending
ABC Q3 2024: A quiet quarter for newspapers
Danette Breitenbach
Jaguar’s rebrand: creative vision or branding blunder?
Karabo Ledwaba
Jobs
- Customer Service (UK Company) Work from Home Work From Home
- Assistant Store Manager Cape Town
- Retail Store Manager Pretoria
- Store Manager Port Elizabeth
- Country Head - FMCG: Food and Consumables Johannesburg
- Customer Service Team Manager - UK Market Work From Home
- Recruitment Consultant Work From Home
- Marketing Coordinator Cape Town
- Assistant Store Manager - Retail store Johannesburg
Woolworths sees over 20% drop in annual earnings
Woolworths said it expected annual earnings to be more than 20% lower than the prior year, partly impacted by the sale of its David Jones business and consumers cutting down on discretionary spending.
A man walks past the Woolworths truck entrance in Cape Town, South Africa, 26 February 2024. Source: REUTERS/Esa Alexander/file photo.
Retailers such as Woolworths have been grappling with challenging trading conditions at a time cash-strapped customers rein in spending amid high interest rates and living costs.
Woolworths, which also operates in Australia, said trading conditions in the second half to date have been tougher than expected for its apparel businesses.
The food, fashion and beauty products retailer said its Country Road Group business in Australia was being further impacted by inflated import costs due to a weaker currency, coupled with higher fixed costs.
The company, however, said its food business continued to prove its resilience, with strong trade and market share gains.
Source: Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/
Related
