Truworths International Limited Announces Group Sales Results for the Twenty Six Weeks Ended December 31, 2017; Provides Group Earnings Guidance for the Twenty Six Weeks Ended December 31, 2017
January 18, 2018 at 02:35 am IST
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Truworths International Limited announced group sales results for the twenty six weeks ended December 31, 2017. Group retail sales for the 26-week period ended December 31, 2017 increased to ZAR 10.3 billion relative to the ZAR 10.2 billion reported for the 26-week period ended 25 December 2016. However, due to the inclusion of a 53rd week in the full 2017 financial period, the 26 weeks of the current period (that is 3 July 2017 to 31 December 2017) do not correspond with the 26 weeks of the prior period (that is 27 June 2016 to 25 December 2016). Compared to the directly corresponding 26-week period of the full 2017 financial period (that is 4 July 2016 to 1 January 2017), retail sales for the current period increased by 1%. Account sales comprised 50% (2016: 50%) of Group retail sales for the current period, with cash sales growing by 1% and account sales remaining unchanged.
The company provided earnings guidance for the twenty six weeks ended December 31, 2017. The Group's diluted headline earnings per share for the current period are expected to decrease by between 3% and 5% to between 372 cents and 380 cents relative to the diluted HEPS of 391.9 cents reported for the prior period. Relative to the comparable prior period's diluted HEPS of 385.3 cents, diluted HEPS are expected to decrease between 1% and 3%.
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 Sales Results for the Twenty Six Weeks Ended December 31, 2017; Provides Group Earnings Guidance for the Twenty Six Weeks Ended December 31, 2017