Mr Price Group sees Q3 sales growth - CNBC Africa

Mr Price Group sees Q3 sales growth

Earnings

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Mr Price opened 37 stores and closed three in the quarter ended 28 December 2013. PHOTO: Cityseeker

The fashion value retailer saw total sales growth increase to 14.8 per cent for the quarter ended 28 December 2013 from a comparable sales growth of 10.5 per cent for the same period in 2012.

[DATA MPC:Mr Price], which during the quarter opened 37 stores and closed three, had also said that sales growth rates were fairly consistent in each of the three trading months.

Retail selling price inflation was 10.8 per cent and weighted average trading space increased by 3.3 per cent.

Cash sales, which increased by 17 per cent for the quarter, constituted 81.1 per cent of total sales, while credit sales growth increased by six per cent.

The group’s Apparel division, which constitutes of Mr Price, Mr Price Sport and Miladys, saw sales growth of 17.2 per cent with a comparable store sales growth of 12.3 per cent.

The Home division, constituting of Mr Price Home and Sheet Street, saw sales growth of 8.3 per cent and comparable store sales growth of 5.5 per cent.

Retail selling price inflation was recorded at 10.8 per cent for the Apparel division and 10.9 per cent for the Home division.

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