JSE-listed fashion retailer Truworths says it expects to report its highest full year earnings ever for the pro forma 52 weeks ended 3 July 2022. It notes the latest performance has been supported by improved sales, strong gross profit margins and expense management.
In South Africa, the group’s business was negatively affected by the July 2021 civil unrests – which impacted operations mainly in KwaZulu-Natal and Gauteng – as well as the KZN floods in April this year. Both these events saw great damage to infrastructure and a halt to trading operations, the group noted in a business update in July.
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