JOHANNESBURG - South Africa retailer Mr Price said on Thursday that it recorded growth in retail sales and other income of 7.4 percent to R7.4 billion during the first four months of the financial year to March 2019, compared with the corresponding previous period.
Mr Prices, which retails apparel as well as homeware and sportswear through owned and franchised stores across 14 countries, primarily in Africa, said total retail sales, including sales to franchisees, were up 6.5 percent at R6.9 billion.
Online sales rose 28.1 percent to R83.2 million, with the MRP Apparel online channel achieving sales growth of 37.6 percent, MRP Home rising 19.5 percent and MRP Sport gaining 31.3 percent.
Mr Price said the retail environment was expected to remain highly competitive until more robust economic growth was attained in South Africa.
"In addition, international trade wars have weighed down on emerging markets," it said.
"Navigating the impact on consumers of a stagnant economy and a weak rand/dollar exchange rate is a top priority and we are confident that our fashion, everyday low price business model is well positioned to offer great value to consumers under these constrained conditions."
- African News Agency (ANA)