South Africa · Delayed Price · Currency is ZAR · Price in ZAc Woolworths Holdings Earnings Call Transcripts
Fiscal Year 2026
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Group sales rose 6% in constant currency, with all segments gaining market share and strong cash flow generation. Margin pressures from investments and forex were offset by operational improvements, and the outlook is for continued earnings growth as CapEx moderates.
Fiscal Year 2025
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The AGM highlighted improved trading momentum driven by internal transformation, ongoing investments in technology, and a strong focus on responsible growth and employee welfare. All resolutions passed, but remuneration policies faced shareholder dissent, prompting further engagement.
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Group sales rose nearly 7% but adjusted EBIT fell 10.9% and HEPS dropped 19% amid macro headwinds and transformation. Foods outperformed with double-digit growth, while apparel rebounded in H2. CRG restructuring is complete, with positive earnings growth expected in FY 2026.
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Group sales rose 5.7% but profits declined due to apparel underperformance and restructuring, while the Food business delivered strong growth and market share gains. The sale of Bourke Street property boosted capital, and significant investments continue in core and growth initiatives.
Fiscal Year 2024
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The AGM featured leadership transitions, robust Q&A on sustainability, diversity, and wage equity, and approval of all resolutions. Strategic investments in new formats, technology, and supply chain resilience were highlighted, while remuneration policy votes showed improved but still insufficient support.
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Group sales rose 4.3% year-on-year, led by strong food and financial services, but offset by a sharp decline in Country Road Group and subdued FBH. Strategic investments, the David Jones sale, and new growth initiatives position the group for future profitability despite macro headwinds.