MPC - Mr Price Group Limited - Trading update to 24 August 2011
MPC
MPC
MPC - Mr Price Group Limited - Trading update to 24 August 2011
Mr Price Group Limited
Registration number 1933/004418/06
Incorporated in the Republic of South Africa
ISIN: ZAE 000026951
JSE share code: MPC
("Mr Price" or "the company" or "the group")
TRADING UPDATE TO 24 AUGUST 2011
For the first four months of the financial year ending 31 March 2012 (18
weeks to 6 August 2011), Mr Price reported total sales growth of 9.2% and
comparable sales growth of 6.7%. Inflation of 5.6% was recorded and, as a
result of the company opening 29 and closing 37 stores, weighted average
trading space decreased by 0.7%. In the future, new and expanded space is
expected to well exceed planned space reductions. Cash sales constituted
81.6% of total sales. Monthly sales growths were: April 2011 15.8%, May
10.5%, June 2.8% and July 6.6%. 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. Sales growth of 12.0% has been
recorded for the period 7 to 24 August 2011.
The Apparel Division, which represents 71.5% of group sales and which
comprises Mr Price, Mr Price Sport and Miladys, reported sales growth for
the period of 9.1% and comparable sales growth of 5.3%. Inflation of 5.2%
was recorded and trading space increased by 1.5%.
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%. Inflation of
6.6% was recorded and trading space decreased by 4.2%.
The above-mentioned figures do not constitute an earnings forecast and have
not been reviewed and reported on by the company`s external auditors.
Durban
26 August 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 26/08/2011 08:00:07 Produced by the JSE SENS Department.
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