Woolworths Holdings Limited ( (WLWHF) ) has released its Q2 earnings. Here is a breakdown of the information Woolworths Holdings Limited presented to its investors.
Woolworths Holdings Limited is a South African retail group known for its diverse offerings in food, fashion, beauty, and home products, with operations extending into Australia and New Zealand.
In its latest unaudited interim results for the 26 weeks ended December 29, 2024, Woolworths Holdings Limited reported a mixed financial performance. The Group saw a 5.7% increase in turnover and concession sales, but faced challenges with adjusted profit before tax dropping by 20.6% compared to the previous year. Despite these challenges, earnings per share rose by 20.9%, attributed to strategic asset disposals.
The company’s food business demonstrated robust growth, with an 11.4% increase in turnover and concession sales, driven by improved availability and a strong brand presence. However, the fashion, beauty, and home segment faced setbacks due to supply chain disruptions and transformation initiatives, resulting in a 17.7% decline in adjusted operating profit. The Country Road Group also experienced a sales decline amidst restructuring efforts and challenging market conditions in Australia and New Zealand.
Looking ahead, Woolworths Holdings remains cautiously optimistic, acknowledging potential macroeconomic challenges but expressing confidence in its strategic objectives and readiness to capitalize on any recovery in consumer spending. The company continues to focus on transformation and growth initiatives across its business segments.