Consumers turn to Mr Price as budgets shrink

File: Mr Price.

File: Mr Price. (eNCA)

JOHANNESBURG - Cash-strapped consumers looking for more affordable options have given Mr Price a boost.

But the clothing and homeware retailer still missed its half-year revenue growth targets.

READ: Repo rate increase by 75 basis points

It blames this on blackouts, social grant payment disruptions and a change to its merchandise planning system.

The group says over 80,000 work hours were lost due to power interruptions.

Sales were up 5.8 percent while online sales increased by 11.2 percent.

Source
eNCA

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