Truworths slides as sales disappoint

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Truworths1

Independent Newspapers

A Truworths store. Picture: Mxolisis Madela.

Johannesburg - Shares of South African clothing retailer Truworths tumble more than 3 percent after it reports a 7 percent increase in 52-week sales, reflecting a slowdown from the prior year's 11 percent growth.

The slowdown is the latest sign that South African consumers remain under pressure, given high levels of inflation and household debt. Truworths also says like-for-like store sales were flat for the year. - Reuters


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