Mr Price says clothing division is stealing back market share
bdlive.co.za - Sep 1st 2017, 10:34
Clothing and homeware retailer Mr Price says it is making headway in its attempt to regain market share lost by its clothing units, MRP Apparel and Milady’s.
In a trading update for the first four months of its 2018 financial year, the company said on Friday that total retail sales were up 6.2% in the 18 weeks to August 5.
For April, May and June, MRP Apparel and Milady’s reported sales growth of 10.1% at current prices — which Mr Price pointed out was far ahead of the 4.8% growth that Statistics SA reported for the retail sector.
Sales growth in the overall apparel segment, which includes MRP Sport, was 8.7% in the 18 weeks to August 5.
The homeware division did not do as well, however, with sales falling 1%, thanks to a 2.1% decline in sales at MRP Home, offset by a 1.7% increase at Sheet Street.
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