Woolworths posts tepid 26-week sales

Group sales rose 1.9% compared with a 2.5% increase in the 26-week period ended 24 December, 2017.

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JOHANNESBURG – Woolworths Holdings Ltd reported a slower sales growth for the 26 weeks ended 23 December 2018, compared with the previous year, the South African department store operator said on Thursday.

Group sales rose 1.9% compared with a 2.5% increase in the 26-week period ended 24 December 2017. The retailer had an additional pre-Christmas trading day in 2017, which helped boost the sales.

The results come in as November retail sales climbed 3.1%, led by household furniture and appliances, textiles, clothing and footwear and general dealers as consumers enjoyed the sales opportunities presented by Black Friday.