Truworths International Limited - Trading Update
TRUWORTHS INTERNATIONAL LIMITED
Registration number: 1944/017491/06
JSE Code: TRU
ISIN: ZAE000028296
TRADING UPDATE
Truworths International Limited ("Truworths") is pleased to announce that the
group increased retail sales in the 18 weeks to 2 November 2003 to
R841.9million, 14.0 % more than the corresponding figure for 2002. In the
previous comparable period (2002), sales grew by 26.9%.
Sales growth included comparable store sales growth of 9% with low product
inflation.
Trading space increased by 5% during the period with 10 new Identity stores
being opened. It is planned to open at least a further five Identity stores
during the financial year. Other major store developments include the opening of
Truworths Emporiums in Midlands Mall, Pietermaritzburg and The Promenade,
Mitchells Plain.
In an environment of lower inflation and declining interest rates, our strategy
is to continue to upgrade merchandise and to offer even more superior quality.
We are well placed to benefit from the improvement in consumer spending arising
from stronger economic growth and lower interest rates and to extend our record
of consistent improvements in sales and earnings for both the festive season
trading period and the rest of the 2004 fiscal year.
A further trading update will be released in early January 2004. Truworths"
interim results for the 26-week period to 28 December are expected to be
announced on 19 February 2004.
6 November 2003
Cape Town
SPONSOR
HSBC
Date: 06/11/2003 10:00:02 AM Supplied by www.sharenet.co.za
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