Woolworths Coming Back Well, Sign Of Returning Confidence

South African consumers seem to be a lot more confident than they were a year ago. Although not completely out of the woods just yet, the value message is not resonating quite as strongly as it was through H110 (calendar). Private consumption rose by 5.9% quarter-on-quarter in Q310, up from 4.9% in Q210, as accommodative monetary policy and significant wage increases pushed up retail sales. The H1 (to December 2010) results put out by South Africa's most premium food retailer Woolworths underlines the fact that the high-end consumer is doing particularly

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