Truworths reports UK recovery, while it holds off on higher SA prices

The clothing giant’s sales in both the UK and SA rose 16.6% and 5% respectively

Truworths is seeing a turn around in its UK operations with shoechain Office reporting improved rental rates and double-digit growth in the 2022 financial year, though sales are not yet back at pre-pandemic levels.

In SA, where it has among the highest gross margins of clothing retailers, sales rose 5%, even though it dropped apparel prices by 0.6%, the retailer said in an update for the 53 weeks to July 3...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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