Woolworths sales stall at 0.2% and shares drop 10%. What changed
Woolworths shares fell more than 10% after the retailer said group sales grew only 0.2% in the 19 weeks to 8 November 2026. Food barely grew in existing stores, fashion slipped and Country Road sales fell 9.5%.
Woolworths shares fell more than 10% on the JSE on Wednesday morning after the retailer said group sales grew by only 0.2% in the 19 weeks to 8 November 2026. Business Day reported the share at R36.88 at 10.30am, down 10.7% (Business Day, Moneyweb).
The group blamed high fuel prices, inflation and interest rates, saying shoppers are sticking to essentials and promotions (Moneyweb).
What did Woolworths report?
The figures come from the group's trading update on the JSE's news service (SENS), covering the first 19 weeks of its 2027 financial year.
| Business | Sales change, 19 weeks to 8 November 2026 |
|---|---|
| Group total | up 0.2% (0.1% in constant currency) |
| Woolworths South Africa | up 1.6% |
| SA Food | up 1.9% (0.1% in comparable stores) |
| SA Food online | up 24.1% (9.1% of food sales) |
| Fashion, Beauty and Home | down 0.3% |
| Homeware | up 6.4% |
| Beauty | up 3.1% |
| Country Road Group (Australia) | down 9.5% (8.2% in comparable stores) |
Sources: Moneyweb, Business Day.
Comparable-store growth of 0.1% in food means stores that were open a year ago sold almost exactly the same amount of food as before.
Is Woolworths cutting clothing space in stores?
Yes. Net trading space in the South African fashion, beauty and home division is 0.7% smaller than a year ago, which the group linked to improving space productivity (Business Day). Country Road's trading space shrank by 2.2%.
New group CEO Sam Ngumeni is reviewing every part of the business, including fashion, food, financial services and Country Road. He told Business Day that customers have been clear that product quality "is probably what we need to get right" in fashion, and that the group is "definitely not turning our back on fashion" (Business Day).
Prices in the division rose by an average of 1.2%, while fashion prices fell by 0.3% (Moneyweb).
What about Woolies credit cards and store accounts?
The Woolworths Financial Services book grew by 4.1% year on year to the end of October 2026. The annualised impairment rate, a measure of bad debt, rose to 7.3% for the four months to 31 October, from 6.7% a year earlier. Woolworths put this down to a weaker economy (Moneyweb).
Why is Country Road struggling?
The group said rising interest rates and the cost of living in Australia hurt foot traffic and spending, with heavy discounting across retail. Several Country Road Group brands trade as concessions inside Australian department store David Jones, which has been placed into administration and receivership. Woolworths said it is talking to the receivers about what this means for the relationship (Business Day, Moneyweb).
What else changed?
Woolworths has completed its purchase of in2food, a South African prepared-foods maker that was one of Woolworths Foods' biggest suppliers. It did not disclose the price (Moneyweb). The group said the deal should support its gross profit margin.
Its next trading update is expected in January, after the festive season (Business Day).
FAQ
Why did Woolworths shares fall on 11 November 2026?
The retailer's trading update showed group sales grew only 0.2% in the 19 weeks to 8 November 2026, with comparable-store food sales up just 0.1%. Business Day reported the share down 10.7% to R36.88 at 10.30am.
How did Woolworths Food perform?
SA Food sales grew 1.9%, or 0.1% in comparable stores, while online food sales grew 24.1% and made up 9.1% of food sales.
When is the next Woolworths trading update?
Woolworths expects to release its next update in January 2027, after the festive season.