BRIEF-Mr Price Group Says Retail Sales & Other Income Rose 1.1% In 18 Weeks To Aug 3

Published 2019/08/22, 07:19
Updated 2019/08/22, 07:20
© Reuters.

Aug 22 (Reuters) - Mr Price Group Ltd MRPJ.J :

* TRADING UPDATE TO 22 AUGUST 2019

* RECORDED GROWTH IN RETAIL SALES AND OTHER INCOME OF 1.1% TO R7.5BN DURING 18 WEEKS TO 3 AUGUST 2019

* DURING 18 WEEKS TO 3 AUGUST TOTAL RETAIL SALES, INCLUDING SALES TO FRANCHISEES, OF R6.9BN WERE 0.5% HIGHER

* GROUP WINTER INVENTORY WAS CLEARED TO ACCEPTABLE LEVELS BY END OF PERIOD

* "EARLY SIGNS OF A PERFORMANCE RECOVERY INTO SPRING AND SUMMER HAVE STARTED TO EMERGE"

* SEES TRADING ENVIRONMENT TO BE CHALLENGING AS GLOBAL MARKETS REMAIN UNCERTAIN & LOCAL ECONOMIC GROWTH IS FORECAST TO BE MUTED IN 2019

* GROUP RETAIL SALES IN LAST TWO WEEKS OF 18 WEEKS TO 3 AUGUST GREW 3.6%

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