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Mr Price sales increase

Retailer Mr Price (MPC) on Thursday reported total sales growth of 14.9% and comparable sales growth of 9.5% for the 18 weeks to August 4.

Units sold increased by 9.7% and inflation of 4.7% was recorded‚ the group said. Mr Price opened 24 and closed 5 stores since year end. Total and weighted average trading space increased by 3.5% and 1.8% respectively.

A Mr Price retail store. Credit: INDEPENDENT MEDIA

Cash sales constituted 78.5% of total sales.

The company’s apparel division‚ which represents 71.6% of group sales and which comprises Mr Price‚ Mr Price Sport and Miladys‚ reported sales growth for the period of 15.0% and comparable sales growth of 9.3%.

Units sold increased by 9.7% and inflation of 4.9% was recorded. Total and weighted average trading space increased by 4.6% and 2.7% respectively.

The home division‚ comprising Mr Price Home and Sheet Street recorded sales growth of 14.4% and an increase in comparable sales of 10.1%.

Units sold increased by 10.0% and inflation of 4.1% was recorded.

Total and weighted average trading space increased by 1.7% and 0.3% respectively. - I-Net Bridge

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