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