Woolworths issues second profit warning in three months

As its sales were impacted by lockdowns in Australia and civil unrest at home.
Image: Halden Krog/Bloomberg

Woolworths Holdings lowered its half-yearly earnings estimate on Thursday, in its second profit warning in three months, as its sales were impacted by lockdowns in Australia and civil unrest at home.

The clothing, food and homeware retailer said headline earnings per share — the main profit measure in South Africa — was expected to fall 30%-40% in the 26 weeks to December 26, 2021.

The company had in November projected profit for the period to fall more than 20%.

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