Hello,
When you update the theme then the translations will be lost.
Let me explain again. Let’s take an example you are using English for US language on your site, and the language files are en_US.po and en_US.mo, Now rename those files as woodmart-en_US.po and woodmart-en_US.mo and place those language files under wp-content/languages/themes It will not be overridden again whenever you will update the Theme same as for other languages you are using.
Regards.
Xtemos Studios.