Woolworths Holdings Gains as Sales Jump: Johannesburg Mover
Woolworths Holdings Ltd. (WHL), a South African food and clothing retailer, rose by the most in a week after saying sales increased 16 percent in the 20 weeks through Nov. 11 compared with the same period a year ago.
The shares gained as much as 2 percent, the most on an intraday basis since Nov. 8, and traded 1.6 percent higher at 70.91 rand at 10:15 a.m. in Johannesburg. The stock has gained 75 percent over the past 12 months.
Clothing sales in South Africa rose 14 percent while food sales gained 11 percent, the Cape Town-based company said today in a stock exchange filing.
The company’s revenue in Australia and New Zealand surged 37 percent in Australian dollar terms, boosted by its takeover of the Witchery Group fashion retailer from Sept. 30.
Woolworths expects to release first-half results about Feb. 14. The retailer isn’t related to London-based Woolworths Group Plc, which collapsed in 2008, or Woolworths Ltd., located in Sydney.
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