Growth in Woolies Food division slows

Despite traditionally being the group’s most resilient and best performing division, the food unit of JSE-listed Woolworths has shown a material slowdown in growth. This is revealed in Woolworths’s latest trading update for the 26 weeks ended December 2021, published on Thursday morning. The retail company is best known for its food segment in South Africa, which, until now, has been its star performer.

Extended lockdowns in Australia as well as the destructive July civil unrest which took place in parts of Gauteng and KwaZulu-Natal , contributed significantly to the group’s overall trading performance. As a result of the prolonged lockdown, the group’s Australian business remains under pressure with its David Jones division reporting a 9.2% decline in turnover and a 9% decline in sales for the period. The Country Road brand also saw a decline in sales, albeit at a slower rate of -3.2%.

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