Truworths store in Illovo, Johannesburg. Picture: FREDDY MAVUNDARetail sales for Truworths Africa, which is comprised mainly of the group’s SA businesses, increased by 2.7% in the period ending to December 29 while retail sales for the group’s UK-based Office segment decreased in sterling terms by 3.3% to £151m .Truworths said it continued to experience challenging trading conditions in both its main markets.
“Low economic growth, high unemployment, load-shedding, modest increases in negotiated wages and higher average fuel and utility prices contributed to low consumer confidence and constrained spending in SA, while Brexit uncertainty combined with continued pressure on store-based retailing continues to negatively impact the UK economy”.
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Truworths posts slim sales gain in tough retail marketThe retailer says low consumer confidence and constrained spending in SA continue to hurt trading
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Mr Price reports market share growth as it keeps costs downThe retailer says retail sales and other income grew 3.5% to R7.4bn in the quarter to end December 28, adding it intends to keep prices low That's true Mbona. Importance of overall cash flow in the financial health of the business.
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