BRIEF-Mr Price Group Expects Q4 Trading Environment To Remain Challenging

Published 2019/01/17, 07:09
Updated 2019/01/17, 07:10
© Reuters.  BRIEF-Mr Price Group Expects Q4 Trading Environment To Remain Challenging

Jan 17 (Reuters) - Mr Price Group Ltd MRPJ.J :

* MR PRICE GROUP - GROUP RETAIL SALES AND OTHER INCOME FOR NINE MONTH PERIOD ENDED 29 DEC 2018 INCREASED 5.8% OVER CORRESPONDING PERIOD IN PRIOR YEAR

* MR PRICE GROUP LTD - DURING Q3 (30 SEPTEMBER 2018 TO 29 DECEMBER 2018) OF FINANCIAL YEAR ENDING 30 MARCH 2019, RSOI GREW 3.5% TO R7.1BN

* MR PRICE GROUP LTD - QRLY TOTAL RETAIL SALES OF R6.7BN (INCLUDING FRANCHISE) WERE 2.0% HIGHER

* MR PRICE GROUP LTD - COMPARABLE GROUP STORE SALES -0.8% FOR QUARTER

* MR PRICE GROUP LTD - QTRLY CORPORATE STORE SALES PERFORMANCE WAS BELOW EXPECTATIONS

* MR PRICE GROUP LTD - DETERIORATION IN SOUTH AFRICAN CONSUMER CONFIDENCE INTO Q3 HIT COMP SALES

* MR PRICE GROUP LTD - NOVEMBER TRADE BEING IMPACTED BY LOWER BLACK FRIDAY SALES

* MR PRICE GROUP LTD - DECEMBER SCHOOL HOLIDAYS COMMENCING A WEEK LATER THAN CORRESPONDING PERIOD

* MR PRICE GROUP LTD - QTRLY SOUTH AFRICAN RETAIL SALES GREW 1.1% TO R6.2BN

* MR PRICE GROUP LTD - TRADING SPACE INCREASED 1.4% ON A WEIGHTED AVERAGE BASIS AND 3.1% ON A CLOSING BASIS IN QUARTER

* MR PRICE GROUP LTD - TRADING ENVIRONMENT IN Q4 IS EXPECTED TO REMAIN VERY CHALLENGING

* MR PRICE GROUP LTD - KEY FOCUS AREAS INCLUDES INVENTORY MANAGEMENT

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