Truworths International Limited Announces Group Retail Sales Results for the Full Year Ended July 1, 2018; Provides Group Earnings Guidance for the Full Year Ended July 1, 2018
July 20, 2018 at 01:50 pm EDT
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Truworths International Limited announced group retail sales results for the full year ended July 1, 2018. The company announced that in a tough economic environment in the UK and in South Africa, group retail sales for the group for the 52-week period ended 1 July 2018 were unchanged compared to the pro forma comparable 52-week prior period (the comparable prior period). Relative to the 53-week prior reporting period ended 2 July 2017 (the 53-week prior period), group retail sales decreased by 2.7% from ZAR 18.5 billion to ZAR 18.0 billion. Retail sales for the company (being the group, excluding the UK-based Office segment) increased by 0.8% relative to the comparable prior period, with cash sales increasing by 2.6% and account sales remaining unchanged. Relative to the 53-week prior period, Truworths' retail sales decreased by 2.1% from ZAR 13.4 billion to ZAR 13.1 billion, with cash sales remaining unchanged and account sales decreasing by 3.0%.
The company provided group earnings guidance for the full year ended July 1, 2018. The group's diluted headline earnings per share for the current period are expected to decrease by between 1% and 3%, to between 601 cents and 615 cents per share, relative to the comparable prior period's diluted headline earnings per share of 621 cents. However, relative to the 53-week prior period diluted HEPS of 661 cents, diluted headline earnings per share are expected to decrease between 7% and 9%.
Truworths International Ltd is a holding company organized around 2 areas of activity:
- retail distribution of clothing and accessories for men, women and kids in Africa (76.6% of net sales): activity carried out, as of late June 2021, through a network of 793 stores (of which 758 in South Africa), broken down by banner between Truworths (346), Identity (254), Uzzi (40), Truworths Man (34), Earthchild and Earthaddict (25), YDE (19), Office London (17), Naartjie (14), Primark (11), Loads of Living (10), Fuel (6), Naartjie and Earthchild (6), Kids emporium (5), Daniel Hechter (2), Ginger Mary (2), LTD and Context, and via the Internet. 97% of sales are earned in South Africa;
- distribution of footwear in Europe (23.4%): activity carried out through a network of 98 stores under Office and Offspring brands located in the United Kingdom (83) in Germany (8) and Ireland (7), and via the Internet. Net sales by country break down by country between the United Kingdom (94%), Germany and Ireland (6%).
Net sales are distributed geographically as follows: South Africa (73.9%), Africa (2.6%), the United Kingdom (21.4%), Ireland (0.9%), Germany (0.8%), Europe (0.2%), the United States (0.1%) and other (0.1%).
Truworths International Limited Announces Group Retail Sales Results for the Full Year Ended July 1, 2018; Provides Group Earnings Guidance for the Full Year Ended July 1, 2018