On the dark side, Eskom’s powerlessness cost Woolworths almost R90-million in profit over just six months, and blackouts are expected to continue putting a damper on business for the foreseeable future.
It said given the erratic and unpredictable nature of the rolling blackouts, it was focused on developing a “longer-term business solution to sustainably mitigate both upstream and downstream impacts to this challenge”. “We have made significant past investments in our energy supply capabilities, with 99% of our stores and all our distribution centres already equipped with generator capacity.”
Despite pressure on its food business, turnover grew by 7.6%, with sales growth accelerating to 8.6% in the last six weeks of the period, despite blackouts.The retail group said its “Fashion Beauty Home” turnaround strategy was gaining traction, with turnover and concession sales growing by 11.2% and 11% respectively. It had also focused on full-price sales and a smaller but more profitable winter clearance sale, which saw gross profit margins increasing to 48%.
Le busy ka dinywek out. Prof Phakeng a re one of you daar mafaseng kae kae. 😂😂😂
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