Flash Briefing: Mr Price buys Yuppiechef; Absa & Sun Intl. struggle; Namibian insurers fined
Mr Price Group has announced that it will purchase 100% of Yuppiechef, a South African e-commerce business focused on home and kitchenware.
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Mr Price buys Yuppiechef e-commerce business
Mr Price will acquire Yuppiechef, in a move that will engage higher earning customers and grow its market share through aspirational spending.
Mr Price delivers strong growth in tough economic environment
Mr Price recorded growth in retail sales and other income of 5.0% to R7.8bn over the corresponding period in the prior year.
Mr Price falls as much as 14% as SA consumer ‘remains constrained’
The weak state of the South African consumer was back on investorsā minds when Mr Price said shoppers ācontinue to be constrainedā as the retailer presented a four-month trading update.
NCR tackles retailers as Foschini joins Mr Price and Edcon in breach of National Credit Act
The National Credit Regulator has referred Foschini to the National Consumer Tribunal for being in breach of the National Credit Act.
Mr Price profit gains as cash sales boost consumer growth
Mr Price Group Ltd. (MPC) said first-half profit increased 23 percent as the clothing and homeware retailerās focus on cash sales helped offset weaker consumer spending in South Africa.
Mr Price profits gain 23% as cash sales boost growth
Mr Price Group Ltd. said first-half profit increased 23 percent as the clothing and homeware retailerās focus on cash sales helped offset weaker consumer spending in South Africa.
Mr Price lifts four-month sales by 16%
JOHANNESBURG (Reuters) –Ā South Africa’sĀ Mr PriceĀ Group Ltd boosted sales by 16 percent in first four months of its fiscal year, bucking the slowing trend in the retail sector as debt-laden consumers flocked to its no-frills stores. Mr Price, which runs apparel outlets, said on Wednesday cash sales increased 19 percent in the four months from March … Read more
Massmart vs Mr Price: SA’s retail sector’s championship bout
Retailers in South Africa have historically enjoyed good returns on capital, and been somewhat shielded by the kinds of price wars that have reduced retail margins to razor thinness in many developed economies. But competition is heating up at the low end of the sector in South Africa with the entrance of Walmart, and many … Read more
Mr Price FY profit jumps 22%
JOHANNESBURG (Reuters) –Ā South Africa’s biggest apparel retailer,Ā Mr PriceĀ Group Ltd, broadly met forecasts with a 22 percent rise in full-year profit on Tuesday as cash-strapped shoppers flocked to its no-frills stores. Mr Price, which runs discount stores of the same name, said diluted headline earnings totalled 715.1 cents a share in the year ended March 29, … Read more