Outlook for Woolworths is bleak as situation in Australia worsens
Retailer expects pandemic to continue hitting its business as Country Road sales plunge
16 August 2020 - 18:33
The effect of the coronavirus pandemic on its business is likely to persist for the rest of 2020 as poor clothing sales at its SA and Australian stores hit earnings, Woolworths has warned.
Woolworths said on Friday that headline earnings per share, which strips out one-off costs such as impairments, for the 52 weeks to June 28 will drop about 70%...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.