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Mr Price reports market share gains, but eyes pressure on consumers

Retail sales grew 6.4% in the first quarter amid selling price inflation of 6.3%, while profit margins improved

Fashion retailer Mr Price says it picked up additional market share in its apparel business in the first quarter of its 2023 year, and is still confident about improved profit margins as it looks for its lower prices to pay off amid inflation.

Total retail sales grew 6.4% to R6.6bn, the group said in a trading update for the 13 weeks to July 2, with unit sales edging up marginally. Its apparel business, however, grew sales 8%, despite coming off a high base in the prior year...

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