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Trading update for the 52 week period ended 26 June 2016
Truworths International Limited
(Incorporated in the Republic of South Africa)
(Registration number 1944/017491/06)
JSE Code: TRU
NSX Code: TRW
ISIN: ZAE000028296
Trading update for the 52 week period ended 26 June 2016
Truworths International Limited (the ‘Group’) announces that Group retail sales for the period
ended 26 June 2016 (‘the period’) increased by 46.1% to R17.0 billion compared to an 8.2%
increase in the prior period ended 28 June 2015 (‘the prior period’). These results are inclusive
of the non-comparable sales of the Office, Earthchild and Naartjie businesses, which were
acquired with effect from 4 December 2015, 1 March 2015 and 1 April 2015 respectively.
Credit sales comprised 53% of retail sales (2015: 70%) for the period, with credit sales
increasing by 11% and cash sales increasing by 130% relative to the prior period. The reason
for the material changes in the credit:cash metrics is that Office generates solely cash sales.
Excluding the sales recorded in both the period and the prior period by the acquired
businesses, retail sales for the period increased by 11.3% to R12.8 billion relative to the prior
period, with cash sales growth of 15.4% and credit sales growth of 9.7%. Credit sales,
excluding those in both periods attributable to the acquired businesses, comprised 70% of
these retail sales for the period. Office recorded retail sales for the period since acquisition of
£169 million (R3.75 billion).
Like-for-like store retail sales, which exclude those in both periods attributable to the acquired
businesses, increased by 7.3%. Trading space increased by 3.8% (excluding the space
increase in both periods attributable to the acquired businesses) and product inflation
averaged 9.5% for the period.
The Group’s trade receivables book increased by 11.7% to R5.8 billion relative to the prior
period-end.
Shareholders are advised that this trading update does not constitute an earnings forecast,
and that the financial information provided herein has neither been reviewed nor reported on
by the Group’s external auditors. The Group’s audited results for the period are scheduled for
release on or about Thursday, 18 August 2016.
15 July 2016
Cape Town
JSE Sponsor: One Capital
NSX Sponsor: Old Mutual Investment Services (Namibia) (Pty) Ltd
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