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TRUWORTHS NEWS ON FASTMOVING

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Truworths reports steady performance

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. read more
Truworths profit at nine-year low as profit plunges over 70%

Truworths profit at nine-year low as profit plunges over 70%

16/08/2019 - 11:52
Shares in Truworths slumped to a nine-year low on Friday morning after the fashion retailer reported a 74% slide in profits amid difficult trading environments in SA and the UK. read more
Truworths falls 6% on JSE after restructure call

Truworths falls 6% on JSE after restructure call

03/07/2019 - 15:32
Truworths fell more than 6 percent on the JSE after it told investors that it had approached lenders to embark on steps to restructure the R801 million debt of its UK-based Office shoe brand, whose operational performance has continued to deteriorate. read more
With large chunk of debt looming, Truworths’s UK business seeks a workaround

With large chunk of debt looming, Truworths’s UK business seeks a workaround

02/07/2019 - 10:40
Truworths International says its UK subsidiary, Office, is considering a debt restructuring ahead of a hefty repayment due in late 2020. read more
Retail fallout linked to need for innovation

Retail fallout linked to need for innovation

25/02/2019 - 12:13
Retailers across the world continue to face strong headwinds. They have suffered a sharp drop in business in recent years, with bankruptcy filings and store closings almost becoming commonplace.  read more
Truworths commits to transformation of its board

Truworths commits to transformation of its board

02/11/2018 - 11:57
Clothing retailer Truworths, which has been targeted by activist shareholders because of the dominance of long-standing white males on its board and executive management team, says it is fully committed to transformation and is on track to reach its board-level BEE targets within 18 months. read more
Truworths falling short of the mark

Truworths falling short of the mark

22/02/2018 - 08:28
With the group trailing its clothing peers, some wonder why its long-standing boss has not resigned yet. read more
Truworths feels consumer pressure

Truworths feels consumer pressure

18/08/2017 - 08:51
Truworths’ share price jumped almost 5% by the close of the JSE on Thursday despite the retailer reporting a contraction in earnings and little growth in full-year profit. read more
 The new face of SA clothing

The new face of SA clothing

07/08/2017 - 11:21
TCI Apparel chair and CEO Herman Pillay, at the age of just 41, is arguably the face of the new generation of South Africa’s clothing and textile executives who are reviving the clothing sector – one factory at a time – and providing local fashion designers with a platform to showcase their work. read more
Truworths Zim posts 40.8% half-year sales drop

Truworths Zim posts 40.8% half-year sales drop

10/03/2017 - 16:33
Harare - With the Zimbabwean government now predicting a 3.7% GDP growth rate in 2017, the story is completely different at one of the country’s leading clothing retailers, Truworths. read more
Slump hurts Truworths most

Slump hurts Truworths most

20/02/2017 - 09:27
Truworths has reported the worst decline in interim sales volumes of all the listed retailers on the JSE. read more
Truworths 26-week sales rise 21% but earnings drop marginally

Truworths 26-week sales rise 21% but earnings drop marginally

16/01/2017 - 08:29
On Thursday Truworths International reported a 21% rise in retail sales to R10.2bn for the 26-week period that ended on Christmas Day. read more
Truworths’ share price tumbles

Truworths’ share price tumbles

03/11/2016 - 11:28
Truworths’ share price tumbled 7% to R66.21 on Thursday morning after it said sales in its first 18 trading weeks declined by 1% to R4.4bn, excluding its acquisition of UK shoe chain Office. read more
Cornubia Shopping Mall to open next September

Cornubia Shopping Mall to open next September

15/09/2016 - 09:19
Cornubia Shopping Mall, currently being developed on the north coastal development corridor of Durban, is set to open in September 2017. The 85,000m² mall is rising from the old cane fields alongside the M41 at Flanders Road. read more
Truworths sales growth improves on year-earlier period

Truworths sales growth improves on year-earlier period

15/07/2016 - 15:52
TRUWORTHS reported double-digit sales growth for the year to end-June, boosted by the acquisitions of the Office Group, Earthchild and Naartjie. read more
Truworths sales up but clothing retailers suffer - Zimbabwe

Truworths sales up but clothing retailers suffer - Zimbabwe

10/03/2016 - 11:28
Harare - Job losses and delayed pay dates in Zimbabwe are worsening trading conditions for credit-based clothing and apparel retailers, with the Zimbabwean unit of Truworths [JSE:TRU] saying on Wednesday (9 March) that consumer incomes have come under threat. read more
Nigerian red tape prompts Truworths to exit - Nigeria

Nigerian red tape prompts Truworths to exit - Nigeria

19/02/2016 - 13:12
Truworths has pulled out of its Nigerian business citing import restrictions, its chief executive said on Thursday (18 Feb), a sign President Muhammadu Buhari’s attempts to boost local industry are hurting foreign investment. read more
Truworths earnings up on UK acquisition

Truworths earnings up on UK acquisition

19/02/2016 - 11:25
Cape Town – Truworths International reported 21% growth in diluted headline earnings per share (Heps) to 403.8 cents for the six months to December 2015, driven by a recovery in the Truworths business and by the acquisition of UK fashion footwear chain Office Retail Group in December. read more
Truworths boosts sales, while Richemont down marginally

Truworths boosts sales, while Richemont down marginally

15/01/2016 - 12:07
Cape Town – Truworths [JSE:TRU] has seen a 36% increase in sales to R8.5bn in the 26 week period ended 27 December 2015, while Richemont [JSE:CFR] saw a dip in sales in the third quarter ended 31 December, both comparative to the previous period. read more
Truworths CEO designate quits

Truworths CEO designate quits

08/12/2015 - 09:58
Truworths CEO designate Jean-Christophe Garbino, who was officially meant to take the helm last July, has resigned. read more
Truworths in R5.5bn UK buy

Truworths in R5.5bn UK buy

30/11/2015 - 12:43
Truworths [JSE:TRU] has joined other South African retailers by investing in European companies after it announced on Monday that it is acquiring 88.9% of UK-based Office Retail Group for R5.5bn. read more
Expensive retail shares fuel bourse rise

Expensive retail shares fuel bourse rise

08/10/2015 - 10:39
Expensive as retail shares look after their strong run over the past few years, they remain the prime mover behind the JSE all share index’s recent gains. read more
Truworths expects flat earnings

Truworths expects flat earnings

16/07/2015 - 15:19
Truworths International expects diluted headline earnings per share for the 52-week period to end-June to be between 2% and 4% higher than last year.  read more
Fashion retailers look abroad as golden era of consumption frays

Fashion retailers look abroad as golden era of consumption frays

30/01/2015 - 09:53
The rising middle class is so last season. SA’s dwindling economy and glacial employment prospects has seen the consumption boom taper off, with fashion retailers such as The Foschini Group (TFG) and Woolworths casting their nets offshore. read more
Retailers note a fair festive season’s trade

Retailers note a fair festive season’s trade

20/01/2015 - 12:39
Christmas trading for SA’s retailers proved fair to middling, with more of the same expected as the year goes on. read more
Truworths aiming at one stop clothing emporium

Truworths aiming at one stop clothing emporium

12/01/2015 - 10:26
Cape Town - After building up its women's wear and men's wear in-store emporiums with its own brands, Truworths is setting its focus to conquering the children's wear market, according to CEO Michael Mark. read more
Truworths focuses on children's clothing market

Truworths focuses on children's clothing market

06/01/2015 - 12:31
Retailer Truworths is set to become the dominant player in the money-spinning children’s-wear market after agreeing to buy iconic specialists Naartjie and Earthchild. read more
Debt makes shoppers think thrice

Debt makes shoppers think thrice

02/12/2014 - 11:09
Retailers are unlikely to experience much festive cheer this year as the strain on disposable income persists. read more
Truworths buys another kidswear business

Truworths buys another kidswear business

28/11/2014 - 09:53
Johannesburg - Truworths International agreed to buy the South African clothes-retail business of Naartjie, the company’s second purchase of a childrenswear specialist in as many months. read more
Mr Price bucks retail sector gloom

Mr Price bucks retail sector gloom

19/11/2014 - 10:52
Cheap and chic cash-based retailer Mr Price bucked the doldrums in the broader retail sector to report a 23% increase in first-half profit on Monday. read more
Cash retailers ‘set for jollier Christmas’

Cash retailers ‘set for jollier Christmas’

11/11/2014 - 09:49
The strain on disposable income is likely to yield another mixed bag at Christmas with cash-based retailers such as Mr Price and Woolworths likely to fare better than credit-reliant players such as Truworths. read more
Truworths shares tank on sales update

Truworths shares tank on sales update

07/11/2014 - 11:32
Johannesburg - Clothing retailer Truworths [JSE:TRU] has issued a trading update on Thursday showing slowing sales growth, sending its shares down more than 8% in early trade. read more
Foschini sees improved earnings

Foschini sees improved earnings

06/11/2014 - 11:09
The Foschini Group, which has moved decisively into the more upmarket segment as it aims for a 50-50 split between credit and cash sales, is expected to report its half-year results on Thursday. read more
Mr Price: Earnings up despite industry slump

Mr Price: Earnings up despite industry slump

24/10/2014 - 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.  read more
Truworths buys Earthchild brand to boost kids wear

Truworths buys Earthchild brand to boost kids wear

09/10/2014 - 12:19
Clothing retailer Truworths International plans to boost its offering to children after completing the purchase of high-end chain Earthchild Clothing for an undisclosed cash sum.  read more
Retailers expecting better sales during this festive season

Retailers expecting better sales during this festive season

30/09/2014 - 09:49
For most of the year retailers targeting the lower-middle income segment have withstood the worst of weak consumer demand, as ever-escalating living costs and a debt overhang caused by a glut of unsecured credit crimp household budgets. read more
Outgoing Truworths CEO cashes in R115m

Outgoing Truworths CEO cashes in R115m

01/09/2014 - 10:33
Within a week of announcing his retirement from the group he led for two decades, Michael Mark, Truworths CEO, cashed in 1.6-million shares, clocking up a R115.5m pretax profit. read more
Edcon in battle to restore its profit

Edcon in battle to restore its profit

27/08/2014 - 11:20
Johannesburg - Edcon is turning to international brands such as Topshop and Tom Tailor as South Africa’s biggest clothing retailer seeks to restore profit seven years after being acquired in a leveraged buyout.  read more
Making of a Mark at Truworths

Making of a Mark at Truworths

27/08/2014 - 11:09
It will be the end of an era at Truworths when Michael Mark, one of the longest-standing and most successful CEOs of a JSE-listed company, steps down at the end of next June. read more
Truworths seeks new CEO for smooth transition

Truworths seeks new CEO for smooth transition

22/08/2014 - 16:08
Fashion retailer Truworths International is looking for a new CEO to replace the incumbent of 23 years, Michael Mark, whose contract term ends in June next year. read more
Truworths results expected to show consumers under pressure

Truworths results expected to show consumers under pressure

20/08/2014 - 10:08
The plight of SA’s indebted consumers will likely be reflected when clothing retailer Truworths reports its full-year results on Thursday. read more
Ghana is next stop in TFG’s African plans

Ghana is next stop in TFG’s African plans

05/08/2014 - 13:33
The Foschini Group’s (TFG’s) Africa agenda is on track, with five store openings in Ghana on the cards for October, as it eyes the continents other high-growth markets such as Kenya, Angola, and Mozambique. read more
Truworths slides most in four years

Truworths slides most in four years

11/11/2013 - 09:16
Johannesburg - Truworths International Ltd., South Africa’s largest listed clothing retailer, fell the most in more than four years as inflation curbed consumer spending and slowed its sales growth. read more
Truworths shares falls on sales drop

Truworths shares falls on sales drop

19/09/2013 - 09:57
Johannesburg - Truworths International Ltd., South Africa’s largest listed clothing retailer, fell the most in three weeks on concern that lending growth is slowing and as monthly retail sales in the continent’s biggest economy shrank. read more
Massmart leads retail rally

Massmart leads retail rally

16/09/2013 - 11:52
Johannesburg - Massmart Holdings Inc., the South African supermarket chain owned by Wal-Mart Stores Inc., is leading the country’s index of retailers as it heads for the longest winning streak in nine months. read more
Truworths: Profit forecast hurts share price

Truworths: Profit forecast hurts share price

29/07/2013 - 09:14
Shares of Truworths tumbled more than 7 percent yesterday after the retailer warned profit growth would miss expectations, as debt-laden customers slowed their spending.  read more
Ghana’s $93m mall ready by October 2014

Ghana’s $93m mall ready by October 2014

29/05/2013 - 09:26
VENTURES AFRICA – A new $93million first class shopping mall- The West Hills Mall- under construction in west Accra is expected to be ready by October 2014.  read more
Truworths leads the plunge

Truworths leads the plunge

13/03/2013 - 08:14
Johannesburg - Truworths International Ltd. led a decline in South Africa’s consumer stocks, which fell the most in a month as spending contracted for the first time since 2009. read more
SA retailers lose steam

SA retailers lose steam

01/02/2013 - 08:19
Johannesburg - South African retailers, fund managers' must-haves in their portfolios for more than a year, are fast falling out of favour as debt-led consumer spending starts to unravel. read more
Truworths forecasts increase in profits

Truworths forecasts increase in profits

21/01/2013 - 08:26
Truworths International (TRU) advised on Friday that it expects both basic earnings and headline earnings per share for the first 26 weeks of the 2013 financial year will be between 16% and 20% higher relative to the corresponding period in the 2012 financial year.  read more
Foschini Expands Outside South Africa to Boost Retail Growth

Foschini Expands Outside South Africa to Boost Retail Growth

19/11/2012 - 09:33
Foschini Ltd., a South African clothing and household goods retailer with nearly 2,000 stores, said it plans to open its first stores in Mozambique and Ghana as it accelerates an expansion drive outside its home market.  read more
Sterling sales boost Truworths shares

Sterling sales boost Truworths shares

09/11/2012 - 07:36
Johannesburg - South Africa’s biggest-listed apparel retailer, Truworths International Ltd [JSE:TRU], reported a 16% jump in sales for the first 18 weeks of its financial year on Thursday, lifting its shares. read more
Retail stocks index drops

Retail stocks index drops

20/08/2012 - 10:30
Johannesburg - Retail shares came under selling pressure on Friday‚ with FTSE/JSE general retailers index falling to its lowest level in three weeks‚ giving credence to caution some analysts have made that the sector might be overheating given the strong run it has had in the last while relative to other areas of the stock market‚ such as resources. read more
Truworths ‘misread trends’ says analyst

Truworths ‘misread trends’ says analyst

16/08/2012 - 10:01
The latest figures from retailer Truworths indicate that the group has misread the fashion trends and lost out to Spanish chain Zara, an analyst said yesterday.  read more
Fast-fashion retailers see opportunity

Fast-fashion retailers see opportunity

01/08/2012 - 08:15
With the entrance of British fast-fashion chain Topshop into SA, the local clothing sector could count on a proliferation of new brands coming into the market, meaning more competition, lower prices and narrower margins, an analyst said yesterday. read more
Truworths Chief financial officer to move

Truworths Chief financial officer to move

12/07/2012 - 08:43
Mark Sardi would resign as chief financial officer at Truworths International to take up the position of deputy chief executive at a listed pharmaceutical company, Truworths said yesterday.  read more
Truworths lifted by share buy-back launch

Truworths lifted by share buy-back launch

19/06/2012 - 08:51
Johannesburg - Shares in Truworths International [JSE:TRU] gained more than 1% as South Africa’s biggest listed retailer launched a R250m share buy-back programme. read more
Share of the week: Foschini

Share of the week: Foschini

11/06/2012 - 08:36
South Africa's second-largest clothing retailer, the Foschini group, lifted retail turnover by 17% and headline earnings a share by 23.6% in the year to March. read more
New mall for Protea Glen, Johannesburg

New mall for Protea Glen, Johannesburg

02/04/2012 - 09:38
Taking a taxi to go shopping some distance away from their homes will be a thing of the past for the community of Protea Glen, as a huge new mall with almost all major retailers is to open on 27 September.  read more
Clothing, footwear sales boost retail confidence

Clothing, footwear sales boost retail confidence

16/03/2012 - 07:45
The first quarter of this year saw improved levels of confidence among retailers, as solid clothing and footwear sales growth bolstered sentiment, the latest Ernst & Young/Bureau for Economic Research survey on Thursday revealed. read more
Truworths profit up, eyes Africa expansion

Truworths profit up, eyes Africa expansion

24/02/2012 - 07:41
Johannesburg - South Africa's biggest listed clothes retailer Truworths International [JSE:TRU] reported a 14% increase in first-half profit, lifted by higher prices and new stores. read more
Truworths dives on below-forecast sales

Truworths dives on below-forecast sales

19/01/2012 - 12:03
Johannesburg - Shares in Truworths International [JSE:TRU] fell more than 3% in early trade on Wednesday, after the clothing retailer released a trading update that one fund manager said fell short of estimates.  read more
Top retailers avoid equity BEE partners

Top retailers avoid equity BEE partners

28/11/2011 - 08:35
Politically connected empowerment’s usual suspects are missing out on a combined market capitalisation of more than R160 billion as they are shunned by top JSE-listed retailers, which have chosen to rather give stakes to their staff and support struggling black entrepreneurs. read more
Woolworths shares dip as sales disappoint

Woolworths shares dip as sales disappoint

18/11/2011 - 08:32
Shares in Woolworths fell more than 2% yesterday after the food and fashion retailer reported disappointing sales growth in its clothing unit as well as poor volume growth in its first five months of trading in its full year. read more
Truworths ups sales

Truworths ups sales

11/11/2011 - 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. read more
Truworths expects higher profit

Truworths expects higher profit

18/07/2011 - 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. read more