Fin24

Mr Price reports sales growth

2011-08-26 08:39

Johannesburg - Clothing and homeware retailer Mr Price Group [JSE:MPC] on Friday said that total sales in the first four months of its new financial year had grown by 9.2%, with cash sales constituting 81.6% of total sales.

Sales grew 15.8% in April, 10.5% in May, 2.8% in June and 6.6% in July.

"This irregular pattern is due to the high sales base arising from the extended school holidays associated with the Fifa 2010 World Cup in June and July 2010," the group said.

The apparel division, which represents 71.5% of group sales and comprises Mr Price, Mr Price Sport and Miladys, reported sales growth for the period to August 6 of 9.1% and comparable sales growth of 5.3%.

The home division, comprising Mr Price Home and Sheet Street recorded sales growth of 9.2% and an increase in comparable sales of 10.1%.