Mr Price defies e-commerce giants as it hits record profit
Vast majority of customers prefer the in-store shopping experience, says Mark Blair
13 June 2024 - 08:10
UPDATED 13 June 2024 - 17:07
Mr Price is unfazed by intense competition from Chinese e-commerce powerhouses Shein and Temu after reporting record operating profit in the 2024 financial year.
On Thursday, the company reported a record-breaking financial year to end-March, with operating profit exceeding R5bn for the first time. Despite an overall sales increase, Mr Price experienced a slight 2.2% dip in online sales. However, this decline has not dampened the company’s outlook...
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