• Country Road: Onto a fresh market.
    Country Road: Onto a fresh market.
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Country Road Group is set to drive full-price sales with targeted, loyalty-based promotions and less generic discounting.

That's the word from parent company, Woolworths (South Africa).

In an investor briefing for the fiscal 2019 period, Woolworths confirmed brands would exit Myer stores and become exclusive to David Jones from this month.

Its retail network will also be optimised in favour of delivering a "market-leading" digital experience, with online sales up 12.9%.

While total sales were also up 0.5% for the year ended June 2019, comparable sales were 0.6% lower.

Woolworths revealed a strong Country Road performance in the second half was offset by fashion misses in Witchery.

Gross profit margin was up 0.6% to 63.4% , due to focus on full-priced sales and good inventory management.

However operating profit was down 2.9%, from $103 million to $100 million, due to negative leverage in the second half.

The Group also reduced its net space by 2.9% during the year.

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