WLW Woolworths

RNS Number:1841G
Woolworths Group PLC
15 January 2003


                              WOOLWORTHS GROUP PLC

                       Trading Statement 15 January 2003

Woolworths Group plc is today providing an update on its trading since the half
year report to 3 August 2002.

Despite a tougher retail environment, Christmas trading has been satisfactory
and in line with the Group's plans. The Board anticipates a significant
improvement in profitability for the year, well in line with market
expectations.

In the six week period to 11 January 2003 retail like-for-like sales growth was
1.5% with like-for-like sales in the Woolworths Mainchain growing 0.9%,
Woolworths big W 6.0% and MVC 6.2%. Total Group sales for the six week period
grew 5.8%.

In the 23 weeks to 11 January 2003, retail like-for-like sales growth was 1.2%
with the Woolworths Mainchain growing 0.5%, Woolworths big W 3.4% and MVC 8.6%.
Total Group sales for the 23 week period grew 4.7%, with the combined Mainchain
and big W businesses up 3.3% and the entertainment businesses up 10.4%.

For the year to date, the gross margin percentage for the combined Mainchain and
Woolworths big W businesses is in line with last year, with the operating margin
benefiting further from continued operational efficiencies and cost control.
Having planned for a conservative level of like-for-like sales growth over the
Christmas period, the Group is comfortable with its inventory position and has
no material exposure to excess seasonal stocks.

Commenting on the Christmas trading performance, Chief Executive,

Trevor Bish-Jones, said:

"Our priority this year has been to address some immediate operational issues,
deliver a solid performance over Christmas and put in place a programme for the
longer term growth of the business.

The initiatives announced in September 2002 for the busy Christmas period were
successfully implemented. Over 6,000 extra staff were recruited with a
significant improvement in staff retention rates and customer service levels.
This was supported by the installation of over 800 additional tills, which were
operational by 14 December. Christmas stock was flowed into the stores earlier
than last year and this, supported by increased delivery frequency and better
instore disciplines, resulted in a marked improvement in availability. New
ranges, particularly in Home and Toys were well received.

Implementation of the longer term strategy for the Woolworths business is also
well underway and a detailed update will be given at the preliminary results
announcement.

The potential for further improvement to the Woolworths business is clear. While
there is still a lot to be done, we are encouraged by the progress that has been
made to date."

The Group intends to announce its preliminary results for the year to 1 February
2003 on 26 March 2003.

For further information contact:

Christopher Rogers, Finance Director +00 44 207 479 5179

Nicole Lander, Head of Corporate Affairs +00 44 207 706 5653

Kate Inverarity, Tulchan Communications +00 44 207 353 4200


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

TSTDGGMMRDMGFZM

Woolworths (LSE:WLW)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024

Woolworths (LSE:WLW)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024