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Mr Price shares drop

Shares in Mr Price fell more than 2 percent after the South African clothing retailer said quarterly sales grew by 10 percent, disappointing investors who may have been expecting a bigger rise.

Retailers have been the darling of investors for more than a year, in a rally that many analysts have said has pushed prices to levels from which they can only disappoint.

A Mr Price retail store. Credit: INDEPENDENT MEDIA

Mr Price fell 2.2 percent at 122.67 rand as of 16:52 SA time, lagging behind a slightly higher JSE Top-40 index. - Reuters

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