Low consumer spending hurts bottom line of Truworths

PUBLISHED: Thu, 20 Feb 2020 16:24:49 GMT


Retailer Truworths sited low consumer spending and confidence in South Africa and the U.K market for the decrease in its operating profit by 2.3 per cent to R2.3 billion. The company expects its sales in South Africa to remain constrained in the medium term with account sales for the period increasing by 4.3 per cent and cash sales declining by 1.2 per cent.Michael Mark, CEO of Truworths joins CNBC Africa for more….

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.