Mr Price outperformed other retailers in the three months to December, recording 8.3% growth in sales. In 2017, the retailer bounced back from a disappointing performance in the 2016 financial year and continued this trend into the festive season. The company said it was expecting further momentum in sales growth for the two-week period from December 31 2017 to January 13 2018. TFG recently reported a turnover growth of 6.6%, while Woolworths fashion, beauty and home delivered a disappointing 0.2% sales decline. The latest Statistics SA data revealed on Wednesday that retail trade sales had increased by a significant 8.2% to R94.67bn year on year in November 2017 after a 3.2% rise in October to R82.43bn. On Wednesday, the Mr Price group said retail sales and other income (RSOI) had exceeded R3bn for the first time in a single month in December 2017. It recorded RSOI growth of 8.3% to R6.9bn. The firm said well-executed merchandise offers had resulted in lower markdowns and improved ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now