Earnings will more than likely be back to 2022 levels …
A shock profit warning from retailer Woolworths sent the JSE Retailers index nearly 6% lower on Thursday, with a sell-off across the board. Woolies, along with TFG, closed down 7%, while Truworths and Pepkor were 6% lower and Mr Price 4% softer.
Last year, its earnings were boosted by the inclusion of profits from the sale of David Jones in Australia . Depending on the metric, profits were up between 29% and 42%.Woolies delivers record earnings after Australian disaster At that time, it was confident in its “ability to deliver against our strategies” and “well placed to benefit from any cyclical consumer recovery”.
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