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Mr Price grows sales despite trade and supply chain disruptions

Mr Price Group said that sales and other income in the 18 weeks ended 7 Aug rose 48.8% to R8,6bn, supported by the recent acquisitions of Power Fashion and upmarket homeware business Yuppiechef.

Source: Reuters/Mike Hutchings
Source: Reuters/Mike Hutchings

Excluding these acquisitions, retail sales and other income in the 18 weeks from 4 April to 7 August grew 38.6% to R8bn, the company said.

The group experienced several external disruptions during the period which impeded performance. However, market share gains were achieved despite these challenges, "highlighting the resilience of the group’s fashion-value business model," Mr Price said.

Mr Price purchase of Yuppiechef gets the go-ahead
Mr Price purchase of Yuppiechef gets the go-ahead

Mr Price will acquire 100% of the privately-owned kitchen and homeware retailer...

21 Jul 2021


Despite the growth in retail sales, Mr Price's share price slumped 6.5% on the JSE on Friday.

The group said that recovery in the consumer environment was negatively affected by extended Covid-19 lockdowns which moved from less restrictive Level 2 and fluctuated between more restrictive adjusted Levels 3 and 4 from 15 June 2021 to 26 July 2021.

Unrest, port disruptions


Significant disruption was also caused to trade and supply chain operations by the civil unrest during the month of July in KwaZulu-Natal and parts of Gauteng, two of the country’s prominent provinces.

27 Truworths stores remain shut following civil unrest
27 Truworths stores remain shut following civil unrest

Truworths International has opened 30 of the 57 stores that had been impacted directly during the civil unrest in Gauteng and KZN in July...

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Additionally, the group’s primary port of entry, Durban, had its operations disrupted intermittently by the civil unrest and an unprecedented cyber-attack. "All these factors have weighed heavily on business and consumer confidence, population mobility and hampered economic activity during the period," the group said.

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