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Trading update for the 18 weeks ended 3 August 2013
Mr Price Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004418/06)
ISIN: ZAE000026951
Share Code: MPC
("Mr Price Group" or "the Group" or "the Company")
TRADING UPDATE FOR THE 18 WEEKS ENDED 3 AUGUST 2013
During the first 18 weeks (31 March 2013 to 3 August 2013) of the
financial year ending 29 March 2014, Mr Price Group recorded total
sales growth of 14.0% and comparable store sales growth of 9.1% over
the corresponding period in the prior year (1 April 2012 to 4 August
2012).
Retail selling price inflation for the period was 7.4%, weighted
average trading space increased by 3.5% and units sold increased by
6.1%.
While the current credit environment in South Africa remains
challenging, the Group is satisfied that the initiatives undertaken
last year to reduce credit sales growth have not negatively impacted
overall sales growth. Customers have responded to the fashion value
merchandise offer and during the period cash sales growth of 14.1%
exceeded credit sales growth of 13.7%. Cash sales constituted 78.6%
of total sales(LY: 78.5%).
The Apparel Division, which represents 72.0% of sales(LY: 71.6%),
achieved sales growth of 14.8% with comparable store sales growth of
8.8%. Retail selling price inflation of 6.4% was recorded, weighted
average trading space increased by 5.2% and units sold increased by
7.8%.
The Home Division (Mr Price Home and Sheet Street) achieved sales
growth of 12.2% and comparable store sales growth of 9.7%. Retail
selling price inflation of 9.8% was recorded, weighted average
trading space increased by 0.5% and units sold increased by 2.2%.
The above-mentioned figures do not constitute an earnings forecast
and have not been reviewed and reported on by the Company’s external
auditors.
Durban
21 August 2013
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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