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Business update
Truworths International Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1944/017491/06)
JSE and A2X code: TRU
NSX code: TRW
ISIN: ZAE000028296
LEI: 37890099AFD770037522
(‘Truworths International’ or the ‘Group’)
BUSINESS UPDATE
Group retail sales for the first 17 weeks (from 29 June 2026 to 25 October 2026) of the 2027
financial period (the ‘current period’) decreased by 4.3% to R6.5 billion when compared to
the first 17 weeks (from 30 June 2025 to 26 October 2025) of the 2026 financial period (the
‘prior period’), as consumer spending remained under pressure in both South Africa and the
United Kingdom. The decline in Group retail sales also reflects the translation of Office UK’s
sales at a stronger average Rand/Pound exchange rate of R21.92 (prior period: R23.63).
In addition, sales performance was affected by lower levels of promotional activity when
compared to the prior period in both businesses. This contributed to Truworths Africa
maintaining Rand gross profit in line with the prior period and Office UK increasing Sterling
gross profit by approximately 2%.
The Group’s balance sheet remains strong and cash generation continues to be resilient.
Retail sales performance by business segment was as follows:
Retail sales Change on
current period prior period (%)
Group R6.5bn -4.3
Truworths Africa R4.1bn -2.7
Office UK £106.8m 0.3
Group account sales were broadly unchanged and represented 46% of Group retail sales (prior
period: 44%). Group cash sales decreased by 7.5%.
Truworths Africa
Truworths Africa’s retail sales decreased by 2.7% to R4.1 billion. Account sales decreased by
0.2% and represented 73% of the segment’s retail sales (prior period: 71%). Cash sales
decreased by 8.6%.
Online sales increased by 16.9% and contributed 10% of the segment’s retail sales (prior
period: 8%).
The segment maintained its measured approach to the granting of credit. At the end of the
first quarter ended 27 September 2026 (‘FY27-Q1’), gross active trade receivables had grown
by 2.2% to R6.2 billion (28 September 2025 (‘FY26-Q1’): R6.1 billion). Overdue balances
were unchanged at 16% of gross trade receivables, while 79% of active account holders were
able to purchase (FY26-Q1: 80%). The number of active accounts decreased by 0.5%.
Office UK
Office UK’s retail sales increased by 0.3% to £106.8 million. In Rand terms, retail sales
decreased by 6.9% to R2.3 billion (prior period: R2.5 billion), reflecting the stronger
Rand/Pound exchange rate.
Online sales decreased by 6.0% in Sterling, reflecting the lower levels of promotional activity
in the current period, and represented 40% of the segment’s retail sales (prior period: 43%).
Outlook
The key November and December trading months lie ahead. The Group’s sales performance
and results for the 26 weeks ending 27 December 2026 will depend significantly on trading
levels over this period.
Shareholders are advised that this business update does not constitute an earnings forecast,
that the financial information provided herein is the responsibility of the directors, and that
such information has neither been reviewed nor reported on by the Group’s external auditors.
The Group’s interim results for the 26-week period ending 27 December 2026 are scheduled
to be released on or about Thursday, 25 February 2027.
Cape Town
5 November 2026
JSE Sponsor: One Capital
NSX Sponsor: Merchantec Capital
Date: 05/11/2026 09:28:00
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