PALESA VUYOLWETHU TSHANDU | Hey Mister, don't price yourself too cheap
But while the Mr Price stock sounds like an easy sell to shareholders, Bird's lack of appetite for risk may be his drawback
In his eighth year as CEO of Mr Price Group, Stuart Bird will have something to celebrate. He leads a team that has seen Mr Price's share price gain more than 50% since it reported a 12% profit decline in the first quarter of last year. It was the first such decline after a 16-year streak of profitability. Since Bird has been at the helm, Mr Price's share price has risen more than 350%, the best performance by a JSE-listed retailer. But just a year ago some - me included - were questioning Mr Price's position as the darling of the discount-apparel sector. The group attributes almost 80% of its sales to cash, so it doesn't come as a surprise that it could outperform competitors that rely on customers who have access to credit. But while the Mr Price stock sounds like an easy sell to shareholders, Bird's lack of appetite for risk may be his drawback. MRP Home is planning to launch a test store in Poland in the second half of the financial year and the group's African operations will r...
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