Mr Price shares plummet as clothing sales fall
Cash consumers are ‘in distress’, the group says, while chair Nigel Payne lambastes load-shedding as ‘untenable’
20 January 2023 - 09:27
UPDATED 22 January 2023 - 18:00
Clothing and home retailer Mr Price’s shares closed down 7.28% on Friday after it reported a drop in same-store sales and increased promotions in the three months to end-December compared with the prior period.
The results, excluding the Studio 88 acquisition, showed cash consumers are “in distress” and its older businesses such as Mr Price clothing are selling less than the year before. ..
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