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A first-half trading update from Woolworths may have fallen short of market expectations, but its local food and fashion businesses still held up relatively well considering a dire economic backdrop, analysts say.
Woolworths reported on Tuesday that volumes fell in both its SA food and fashion businesses in the first of its 2024 year, noting a decline in consumer discretionary spending had been "greater than expected".
It also battled with issues including SA's chaotic ports, which cost it some of its summer ranges and food product lines, as well as bird flu, and indicated it was fighting for market share.
