Trust Steinhoff to come up with a new form of reporting: sustainable earnings. The retailer’s accounts are a trial in perseverance at the best of times and now investors have the option to pick between basic earnings per share (EPS), diluted EPS, sustainable EPS and diluted sustainable EPS for the six months to March.Rex Trueform, which owns the Queenspark fashion chain, has traditionally been out of sync with the mainstream fashion retailers on the JSE. While Truworths, Foschini and Mr Price have had their share of problems in this lean trading environment, prospects for RexTru seem so much more threadbare. On Wednesday, RexTru said earnings for the year to June would plunge at least 65% from the 57.1c per share posted in the previous financial year. Posting earnings of 20c a share may not appear to be a train smash. But the severity of the second-half downturn is clear when realising RexTru reported 22c per share in earnings in the first six months. It means Queenspark was trading...
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