# Woolworths shares yesterday fell almost 9 percent after a trading update showed its food business delivered just 1.9-percent turnover growth. With prices rising by three-percent, sales volumes appear to have declined, while comparable-store growth was flat. Portfolio manager and research analyst at Gryphon Asset Management, Casparus Treurnicht, described the food division’s results as among its worst in a long time. The company’s Fashion, Beauty and Home division also recorded a 0.3-percent decline in sales. Woolworths blamed the results on a challenging trading environment in South Africa.
Woolworths shares tumble after disappointing food sales