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Woolworths considers expanding & going online
25
Nov '10
Woolworhs Holdings Ltd., a South Africa based food and clothing retailer is considering expansion, as it intends to launch retail outlets in more countries in Africa, and also to open a wide range of its products for online shopping so as to draw more customers.

Currently, Woolworths has set up shop in around 12 countries in Africa, and is surveying the market prospects for spreading out in several other countries there.

The firm stated that, it is now assessing its status with regards to its 'Africa strategy', and would reveal the results in the early part of 2011. It further stated that, it is eyeing Africa as a significant market for it in the longer run.

Woolworths managed to grow its turnover by almost two-fold over the last six years, by launching new outlets and developing the product range. The company in a recent report to the Stock Exchange stated that, there has been an 11 percent rise in its sales during the 20 weeks period that ended on November 14, while the turnover of its outlets which are over a year old too has risen by 6.9 percent.

The company plans to start offering it entire food and also a wide clothing range for online sale, early next year.

Fibre2fashion News Desk - India

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