CAPE TOWN - Truworths International’s full-year profit is expected to decrease by between 1 and 3 percent, the retailer said in its trading update for the year to July 1.
The group’s headline earnings per share for the period are expected to decrease to between 601cents and 615c a share, relative to the comparable prior period’s headline earnings a share of 621c.
However, relative to the 53-week prior period diluted headline earnings a share of 661c, the fashion retailer expected profits to decrease between 7 and 9percent. Retail sales for Truworths increased by 0.8percent relative to the comparable prior period, with cash sales increasing by 2.6percent and account sales remaining unchanged.
Compared with the 53-week prior period, Truworths’ retail sales decreased by 2.1percent from R13.4billion to R13.1bn, with cash sales remaining unchanged and account sales decreasing by 3percent.
Retail sales for the Group’s UK-based office segment decreased by 2.5 percent compared with the comparable prior period.