TRUWTHS: 8,476 -469 (-5.24%)
South Africa's Truworths posts flat first-half retail sales growth
Feb 22 (Reuters) - South African clothes retailer Truworths
on Thursday reported flat retail sales growth in the
first-half, which it blamed on a challenging trading period
marred by political uncertainty in its home market.
The company, which also runs the British footwear chain
Office, said retail sales for the 26-week period ended Dec. 31
rose to 10.3 billion rand ($884.69 million), from 10.2 billion
rand a year ago.
Retailers in South Africa are facing tough trading
conditions as consumer sentiment hits multi-year lows and high
unemployment and inflation erode disposable incomes in the
country's first recession in eight years.
Diluted headline earnings per share, a widely watched profit
measure in South Africa, strips out certain one-off, non-trading
items, fell 3 percent to 379.3 cents.
($1 = 11.6425 rand)
(Reporting by Radhika Rukmangadhan in Bengaluru. Editing by
© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.