TRUWTHS: 7,750 -172 (-2.17%)
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
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