Truworths ups sales
Fin24 - Nov 11th 2011, 08:25
Johannesburg - Retailer Truworths International [JSE:TRU] on Thursday said group retail sales for the first 19 weeks - from June 27 until November 6 2011 of the 2012 financial period - rose by 9.3% to R 3.0bn, relative to the corresponding period in the 2011 financial period.
Comparable (same store) retail sales increased by 4.7% and product inflation averaged 8%.
Credit sales comprised 73% of retail sales from 71% in 2011, while trading space increased by 6.2% relative to the prior corresponding period-end.
Gross trade receivables increased to R3.4bn and were 15.6% higher than the prior corresponding period-end, in line with management's strategy of growing credit in Identity, the company said.
The receivables' book continued to perform in accordance with management's expectations, it said.
"The 2012 financial period will comprise 53 trading weeks, with the interim results for the 26-week period ending December 2011 scheduled for release on or about February 23 2012," Truworths said.
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