Christmas and Black Friday fail to deliver for Mr Price
After a sales boom in December 2017 as South Africans celebrated the ousting of Jacob Zuma, last Christmas was flat for Mr Price
After enjoying a bumper Christmas in 2017 as consumers celebrated “Ramaphoria” by buying clothes, Mr Price had a pedestrian festive season in 2018. In a sales update for the December quarter — the third quarter of its financial year — Mr Price said a deterioration in SA consumer confidence contrasted with “the optimism experienced in December 2017 post the ANC election outcome and subsequent change in SA’s president, which provided temporary support to the retail sector”. Black Friday sales in November were also disappointing compared with the previous year, Mr Price said. The group’s overall retail sales and other income grew 3.5% to R7.1bn in the December quarter compared with the same period in 2017. Retail sales alone grew just 1.9%, with its sports division the star performer, recording 12.7% growth. Its flagship Mr Price apparel division grew sales 0.4% and Miladys 0.2%, contributing to an overall growth of 1.4% in its clothing division. Mr Price Home grew sales 4.9% and Sheet...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.