Truworths expects earnings to decline

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Retailer Truworths, which owns YDE, expects headlines earnings per share to drop 30% for its 2020 financial year

Truworths store in Illovo, Johannesburg. Picture: FREDDY MAVUNDA

“An impairment of the group’s carrying value of the Office trademarks and right-of-use assets relating to store leases will be required during the 52-week financial period ending on June 28 2020,” Truworths said. Truworths has not been allowed to trade under SA’s initial level 5 lockdown regulations. It resumed trading on May 1 under level 3 guidelines.

 

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