Mr Price shares plunge after retailer warns of lower sales of apparel
Winter fashion markdowns have hit the group as consumers feel the pinch
22 August 2019 - 08:12
UPDATED 22 August 2019 - 13:31
In an ominous sign for SA’s retail sector, affordable fashion retailer Mr Price Group, which traditionally weathers economic storms better than others thanks to its lower price points, says apparel sales have gone backwards.
Mr Price Group shares plunged to their worst level in more than two years after the company said retail sales from fashion stores, its biggest division, fell in the first four months of the new financial year as SA’s weak economy forced it to slash prices...
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