Mr Price says clothing division is stealing back market share
Clothing and homeware retailer Mr Price says it is making headway in its attempt to regain market share lost by its clothing units, MRP Apparel and Milady's.
Image credit: Freddy Mavunda via Business Day
In a trading update for the first four months of its 2018 financial year, the company said on Friday that total retail sales were up 6.2% in the 18 weeks to 5 August.
For April, May and June, MRP Apparel and Milady's reported sales growth of 10.1% at current prices - which Mr Price pointed out was far ahead of the 4.8% growth that Statistics SA reported for the retail sector.
Sales growth in the overall apparel segment, which includes MRP Sport, was 8.7% in the 18 weeks to 5 August.
The homeware division did not do as well, however, with sales falling 1%, thanks to a 2.1% decline in sales at MRP Home, offset by a 1.7% increase at Sheet Street.
Source: BDpro