Thursday’s focus is on retailers, with results from Woolworths and Walmart’s South African subsidiary, Massmart.Both have issued trading statements warning of substantial profit declines.On Tuesday, Shoprite’s share price fell 4.15% after it reported a 4% drop in diluted headline earnings per share (HEPS) and cut its dividend.Woolworths said in a trading statement on July 19 it expected to report on Thursday its HEPS for the 52 weeks ended June 24 declined by up to 20%.Woolworths said its food division grew sales by a "market-leading" 8.4%, but its clothing division’s sales fell 1.5%.In Australia, its Country Road clothing chain grew sales by 1.7% while department store chain David Jones’s sales declined 0.9%.In its interim results, Woolworths booked a A$712.5m (about R7.5bn) impairment of David Jones.Massmart told shareholders on July 30 it expected to report on Thusday that its interim HEPS for the 26 weeks to end July 1 declined by up to 47%.Massmart said the interim results wou...
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