Fashion, home retailers report mixed updates
TFG led sales growth ahead of its peers in the nine months to December, while sales at Mr Price recovered in November and December, and sales at Truworths rose by a meagre 1.2percent to R10.6billion for the 26 weeks to the end of December.
TFG said consolidated turnover grew by 5.9percent for the nine months to December 2019, compared with a year earlier, in line with expectations in all regions, apart from TFG Australia, which exceeded expectations. The group said on Friday that same-store turnover grew by 4.1percent, cash turnover jumped 11.2percent and credit turnover declined by -1percent as a result of its prudent approach to credit in the current constrained economic environment.
TFG said the turnover growth included a record Black Friday performance, which helped to offset the negative impact of load shedding in December.
Mr Price said earlier on Friday that it had continued to gain market share in November, an increasingly key trading month because of Black Friday.
Source: iol.co.za
