Cape TownWoolworths Foods turnover grew 1.9%, concession sales 0.1%.
South Africa’s consumer shares fell, and Woolworths’ in-store inflation runs above rival chains’.
Rand Swiss analyst Viv Govender says shoppers leaving Woolworths are changing the food they buy for their children.
Clothing groups fell hardest, and the next trading updates will show whether the squeeze spreads.
How each outlet framed it
- Daily Maverick leans critical
- uses Woolworths' 0.1% food sales growth as a signal of middle-class strain and a decoupling of markets from underlying economies
Sources: Daily Maverick