Covid-19 still hitting Truworths’ sales in SA, UK

The fashion group is facing more trading restrictions in the UK as that country experiences a second wave of Covid-19

Truworths store in Illovo, Johannesburg.
Truworths store in Illovo, Johannesburg.

Truworths, one of South Africa’s biggest fashion retailers, says the Covid-19 pandemic continues to weigh on sales, with the group now bracing for additional uncertainty as the UK suffers a second-wave of the pandemic.

Retail sales for the 18 trading weeks to November 1 decreased 10% to R5.7bn, the group said, with the UK under the most pressure, amid a generally weak economic backdrop and uncertainty over Brexit.

Retail sales for Truworths Africa decreased by 9% to R4.2bn to November 1, while retail sales for Office in the UK decreased 12% in rand terms to R1.5bn. Office UK sales fell 26% in pound terms. — BDLive

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