Mr Price CFO sells down stake

Published Jan 18, 2017

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Johannesburg – Mr Price

Group’s CFO Mark Blair on Tuesday sold shares in the company worth R500 000.

However, the stake is a fraction of his entire holding in the company.

This, coincidentally, was

the same day that the company reported a lacklustre trading update, which saw

its stock lose some ground before recovering the end the day at R156.00.

On Wednesday morning, it was

trading as much as a percent lower when compared to its opening price.

Blair sold 3 230 shares on

the open market at a price of R158.50 in a deal worth R511 955.

Mr Price said on Tuesday

that income grew 0.4 percent in the three months to December, while inflation

was above 10 percent.

Read also:  Inflation knocks Mr Price sales

In a statement the company

said total sales came in at R6.4 billion, while retail sales were R6.1 billion,

0.5 lower year-on-year.

Stripping out the bonus of

53 weeks in the year to April, Mr Price said sales growth in its wholly-owned

stores came in at between 5 percent and -0.6 percent.

All its brands, which

includes Miladys and Sheet Street, experienced declines when it comes to

comparable store sales – which strips out additional stores, with the exception

of Sheet Street.

On the same like-for-like

basis, monthly sales growth reflected an improving trend in festive season

trade. Group sales in December increased by 3.9 percent.

BUSINESS REPORT ONLINE

 

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