Retail giant Woolworths South Africa expects its profit growth to increase dramatically to 80% by December 2022.
According to Woolworths, the Fashion Beauty Home turnaround strategy has continued to gain traction, with sales growing between 11.2% and 12.0% in the last six weeks of the recorded period. “Additionally, we continue to incur a significant increase in diesel costs to enable trade during extended power outages.”
“As demand for online shopping continues to grow, we have continued to focus our investments on optimising the online shopping experience and order fulfilment across all our delivery networks,” said Woolworths in early December 2022.
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