Fashion retailer Truworths says it is adopting a proactive approach to the country’s power crisis and plans to insulate the rest of its turnover by extending backup power solutions to stores that are still vulnerable. Moneyweb Matshoba_A PowerCuts
Fashion retailer Truworths says it is adopting a proactive approach to the country’s power crisis and plans to insulate the rest of its turnover by extending backup power solutions to stores that are still vulnerable. The JSE-listed retailer is already ahead of its peers, having insulated at least 80% of its turnover from the impacts of load shedding by installing alternative energy solutions.
With cost pressures, led largely by the country’s energy crisis, on the rise, Truworths has had to pass on some of that pressure to the consumer. In its half-year update, the fashion retailer reported that it has seen retail selling price inflation averaging 13.3% for the current period. This is significantly higher than that reported in 2021, when the company instead saw product deflation of 2.4%.
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