Truworths expects higher profit
Fin24 - Jul 18th 2011, 11:40
Johannesburg - South Africa’s biggest listed clothing retailer Truworths International said on Friday full-year profit likely rose as much as 22%, beating consensus estimates as lower interest rates boost consumer spending.
Truworths said headline earnings per share (Heps) likely increased by between 18% and 22% in the 52 weeks to June 26. A Thomson Reuters poll of 10 analysts expects the company to post a 19.7% rise in Heps.
Shares in the company rose 1.06% to R73.27 in midday trade, outpacing a flat JSE Top 40 blue chip index .
Consumer demand is recovering in South Africa after a contraction in 2009, helped by 650 basis points of interest rates cuts since 2008 that left borrowing costs at historic lows, but analysts and fund managers have said the recovery has not been enough to justify high valuation multiples.
Truworths said sales increased 13.5% to R8.1bn, with same-store sales increasing 8.9% on product inflation of around 4%.
Violence can impact availability of retail stock in SA, says industry body
12/09/2019 - 14:06
The Consumer Goods Council of South Africa (CGCSA) is concerned that the violent protests in the country could lead to a significant impact on stock available for retailers.
UK retailers bristle at demand of no-deal Brexit
10/09/2019 - 14:52
A British demand for supermarkets to prepare for a potentially chaotic no-deal Brexit by stockpiling food is stoking anger in the industry, with bosses saying they should not be blamed if people can't find everything they want on the shelves.
Customer loyalty – It’s a dog’s life
02/09/2019 - 11:05
Acquiring today’s customer is a lot like getting a dog. They provide an endless amount of value and the feel-good sense of confidence that you’re doing a good job.
Retail stocks: Look out for the potholes and opportunities
26/08/2019 - 16:22
Retailers and wholesalers on the JSE have been clobbered since their respective 2018 financial results.
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.