Advertise with fastmoving.co.za
 
 

Mr Price: Earnings up despite industry slump
Mr Price: Earnings up despite industry slump

Mr Price: Earnings up despite industry slump

RETAILER NEWS

IOL Business - Oct 24th 2014, 12:07

Mr Price Group, the retailer that sells most of its clothing and housewares for cash, rose to a five-week high after reporting first-half earnings gains that ran counter to a consumer-spending slump.  

Mr Price shares increased 3.99 percent to R217.08 by the close yesterday. The stock has risen 33 percent this year, the best performance among local retailers.

Earnings excluding one-time items in the six months through September 27 climbed as much as 24 percent to 378.2 cents a share, the Durban-based company said in a statement yesterday.

That compares with net income that was little changed in the year through June 29 at competitor Truworths International.

Nationwide retail industry sales were unchanged in June, the worst performance since December 2009, and the SA Reserve Bank has raised its benchmark interest rate twice this year.
From © Independent On-line 2013. All rights reserved. 

Related News

Sales at Truworths Africa outperform its UK business
12/11/2019 - 13:24
Truworths, which was forced to write down its UK business by a third recently, said that retail sales in that country were flat in the 18 weeks to November 4, although its African operations performed better.

Regulation of online and mobile gambling in Africa must gather pace
29/10/2019 - 10:20
The gambling industry in Africa has been busy recently following the ICE Africa and Big African Summit events. These explored the current state of legal gambling within the continent and included conferences by established industry professionals.

Pick n Pay unveils its revamped "On Nicol" flagship store
18/10/2019 - 10:59
Pick n Pay’s flagship store On Nicol officially welcomed customers after a comprehensive revamp. The refurbished store has an exciting array of new offerings with the very best in retail concepts developed in South Africa and from around the world. Customers can expect an enhanced fresh food experience, a huge focus on product quality, a much-improved range, innovative third-party services, and refreshed customer service.

Tough economy put a chill on Mr Price retail sales
23/08/2019 - 09:24
A tough economic climate has put pressure on Mr Price's fashion retail sales, as customer spending remained constrained, the company said in a trading statement for the first four months of its financial year ended March 28.

Truworths reports steady performance
20/08/2019 - 10:04
Truworths International reported lower earnings for the year to June 2019 as Truworths posted a steady performance in the weak domestic retail market while the profitability of the Office chain was severely impacted by the depressed United Kingdom (UK) trading conditions.