BRIEF-Woolworths Holdings Says Constrained Trading Conditions To Persist Over Remainder Of H2

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BRIEF-Woolworths Holdings Says Constrained Trading Conditions To Persist Over Remainder Of H2
Credit: © Reuters.

May 27 (Reuters) - Woolworths (ASX: WOW ) Holdings Ltd WHLJ.J :

* JSE: WHL - WHL01 - FURTHER UPDATE ON THE IMPACT OF COVID-19, TRADING UPDATE AND STRATEGIC INITIATIVES

* WOOLWORTHS - SPREAD OF COVID-19 CONTINUES TO HAVE A PRONOUNCED IMPACT ON GROUP

* WOOLWORTHS - WE EXPECT CONSTRAINED TRADING CONDITIONS TO PERSIST OVER REMAINDER OF SECOND HALF OF FINANCIAL YEAR

* WOOLWORTHS - EXPECT CONSTRAINED TRADING CONDITIONS TO PERSIST OVER REMAINDER OF SECOND HALF

* WOOLWORTHS - HAS EXECUTED A SERIES OF FOCUSED PROMOTIONAL AND CLEARANCE INITIATIVES TARGETED AT GENERATING AND PRESERVING CASH

* WOOLWORTHS - TURNOVER AND CONCESSION SALES DECLINE BY 18.5% IN SUBSEQUENT EIGHT WEEKS TO 26 APRIL

* WOOLWORTHS - INTENSIFIED FOCUS ON LIQUIDITY, MINIMISING OPERATING AND CAPITAL EXPENDITURE AND MANAGING WORKING CAPITAL ACROSS GROUP

* WOOLWORTHS - EXECUTED PROMOTIONAL, CLEARANCE INITIATIVES TARGETED AT GENERATING AND PRESERVING CASH

* WOOLWORTHS - PROMOTIONAL, CLEARANCE INITIATIVES WILL NEGATIVELY IMPACT THIS FINANCIAL YEAR'S GROSS PROFIT MARGIN

* WOOLWORTHS - EFFECTS OF PANDEMIC LIKELY TO HAVE ADVERSE IMPACT ON ADJUSTED HEPS, CASH FLOW IN H2 OF FINANCIAL YEAR

* WOOLWORTHS - PROACTIVELY ENGAGING WITH SOUTH AFRICAN FUNDERS, PROVISION OF FUNDING SUPPORT OF A$75 MILLION TO AUSTRALASIAN BUSINESSES

* WOOLWORTHS - PROACTIVELY SEEKING SUSPENSION OF COVENANT TESTING FOR AUSTRALASIAN FUNDING

* WOOLWORTHS - REVIEW OF CAPITAL STRUCTURE OF AUSTRALASIAN ENTITIES HAS BEEN INITIATED AND WILL INCLUDE RESTRUCTURING OF ITS BORROWINGS

* WOOLWORTHS - WILL CONSEQUENTLY NOT DECLARE A FINAL FY20 DIVIDEND

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