Tough trading environment hits Woolworths

JOHANNESBURG - Retail group Woolworths has reported a decline in annual earnings, with headline earnings per share dropping 16.8 percent for the 53 weeks ending June.

This decline is attributed to the challenging macroeconomic conditions in South Africa and Australia.

The company noted that this year's results aren't directly comparable to last year's due to the inclusion of David Jones' figures for nine months and the extra trading week in 2024.

Despite this, the retailer saw a 4.3 percent increase in turnaround and concession sales.