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Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number 1929/001986/06
LEI: 37890095421E07184E97
Share code: WHL
Share ISIN: ZAE000063863
Bond Company code: WHLI
("the Group")
TRADING UPDATE IN RESPECT OF THE 19 WEEKS ENDED 9 NOVEMBER 2025
This announcement provides an update on the Group's trading performance for the 19 weeks ended 9 November
2025 (the "period") over the comparable 19 weeks ended 10 November 2024 (the "prior period"). A further
trading update will be released in mid-January 2026, following the festive season trade.
GROUP
The Group performance for the 19-week period reflected continued resilience, with positive sales growth in all
segments of our business, notwithstanding the constrained macro-economic environment across both South
Africa and Australia. Group turnover and concession sales for the period grew well above inflation at 6.2%, and
by 6.8% on a constant currency basis. The Group's previously communicated share buyback programme
commenced in September 2025, with 6.9 million shares repurchased to date, at an average share price of R51.22.
WOOLWORTHS
Woolworths South Africa delivered very creditable turnover and concession sales growth of 7.4% for the period,
despite relatively subdued consumer confidence and spend.
Within this, our Food business continued to deliver strong turnover and concession sales growth of 7.7% and
6.0% on a comparable-store basis, with consistent month-on-month market share gains and positive underlying
volume growth, supported by our ongoing innovation and enhanced customer experience. Price movement has
been steadily declining and averaged 4.6% for the period, while trading space increased by 4.8% on the prior
period. Our on-demand Woolies Dash offering grew by 24.2%, with ongoing investment in digital platforms. The
online channel now contributes 7.3% to SA Food sales.
Fashion, Beauty and Home ("FBH") turnover and concession sales increased by 6.2% and by 6.6% on a
comparable-store basis. Pleasingly, trading momentum has improved on that of the prior period, with sales
growing ahead of the market in each of the past six months, supported by increased product availability as a
result of our transformational value chain initiatives. Price movement averaged 3.3% over the period,
incorporating Fashion inflation at 2.2%, with positive underlying volume growth, supported by improved product
resonance and in turn, higher sell-through rates. Our Beauty and Home businesses delivered strong growth of
9.6% and 13.8%, respectively. The ongoing initiative to optimise space and efficiency metrics, resulted in net
trading space decreasing by a further 1.8% relative to the prior period, whilst online sales contributed 6.0% to
SA FBH sales.
The Woolworths Financial Services book decreased by 2.0% on a year-on-year basis to the end of October 2025,
but increased by 1.5% when excluding the sale of part of the legal book, with continued disciplined focus on
quality growth through both new accounts, as well as credit limit increases on existing accounts. The annualised
impairment rate for the four months ended 31 October 2025 increased marginally to 6.7%, and remains sector
leading.
COUNTRY ROAD GROUP ('CRG')
Although trading conditions in Australia and New Zealand appear to be gradually improving, the retail sector
remains challenging and highly promotionally driven.
CRG sales increased by 3.3% for the period and by 3.9% on a comparable-store basis. With the exception of
Mimco, all brands are trading ahead of last year, benefiting from the repositioning of the underperforming
brands, and the successful restructuring of CRG's operating model. Net trading space and online sales
contribution has remained broadly unchanged compared to the prior comparable period.
CONSTANT CURRENCY INFORMATION
Constant currency information has been presented to illustrate the impact of changes in the Group's major
foreign currency, the Australian dollar. In determining the constant currency growth rate, turnover and
concession sales denominated in Australian dollars for the period have been adjusted by application of the
aggregated monthly average Australian dollar exchange rate for the prior period. The aggregated monthly
average Australian dollar exchange rate is R11.46 for the period and R11.91 for the prior period. Foreign currency
fluctuations of the Group's rest of Africa operations are not considered material and have therefore not been
applied in determining the constant currency growth rate.
The information contained in this announcement, including constant currency and pro forma information, is
presented in accordance with the JSE Limited Listings Requirements, and has not been audited, reviewed or
reported on by the Group's external auditor. The constant currency and pro forma information is the
responsibility of the Group's directors and has been prepared for illustrative purposes only and, because of its
nature, may not fairly present the Group's financial position, results of operations or cash flows.
Contact:
ZaidManjra@woolworths.co.za (Group Finance Director)
JeanineWomersley@woolworths.co.za (Group Strategy and Investor Relations)
InvestorRelations@woolworths.co.za
Cape Town
12 November 2025
JSE Equity and Debt Sponsor
Investec Bank Limited
Date: 12-11-2025 07:05:00
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