Retailer Mr Price says civil unrest in July cost it an estimated R320m in lost sales, but it has still upped its interim dividend by more than a third amid market share gains.
Mr Price Apparel, its largest division, has gained market share for 19 consecutive months, with Mr Price attributing this to its value proposition for customers, adding it highlights the defensive nature of its business. “Our fashion-value merchandise, fiscal discipline and highly cash-generative business model has helped us to trade through some difficult circumstances and emerge in a position of strength,” group CEO Mark Blair said in the results.
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