Woolworths thinks again as FBH sales drop, online sales soar

JOHANNESBURG – Woolworths is in the process of fixing and repositioning its fashion, beauty and home (FBH) business.

The group said it would refocus the business back to basics and open itself to understanding the needs of its customers more.

Chief executive Roy Bagattini this week said the process would involve a strategy to identify lower hanging fruits in the near term as annual sales declined 10.7 percent due to Covid-19 disruptions.

It said the business recorded a 24.1 percent decline in sales during the second half of the year ended in June, severely impacted by the closure of stores in South Africa.

The unit’s operating profit tumbled 59.5 percent to R683 million, resulting in an operating margin of 5.5 percent.