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Retail Analysis: Woolworths braces for earnings dip and Shoprite forges ahead with sales up 12%

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GUEST – Zwelakhe Mnguni – Chief Investment Officer at Benguela Global Funds Manager
Food, fashion and beauty product retailer Woolworths expects a double-digit drop in its earnings per share for the 53 weeks to 30 June 2024, it announced in a trading update on Sens on Wednesday.
The giant among South Africa’s retailers, Shoprite, on Tuesday reported a 12% surge in annual merchandise sales, which it attributes to a combination of new store openings and robust sales across most of its store brands.

31 Jul 2024 3PM English South Africa Business News · Investing

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