Truworths reports UK recovery, while it holds off on higher SA prices
The clothing giant’s sales in both the UK and SA rose 16.6% and 5% respectively
26 July 2022 - 14:28
Truworths is seeing a turn around in its UK operations with shoechain Office reporting improved rental rates and double-digit growth in the 2022 financial year, though sales are not yet back at pre-pandemic levels.
In SA, where it has among the highest gross margins of clothing retailers, sales rose 5%, even though it dropped apparel prices by 0.6%, the retailer said in an update for the 53 weeks to July 3...
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