Mr Price slumps amid load shedding and social grant disruptions

The original article can be found here.

Article highlights:

  • Shares of JSE-listed retail group Mr Price slumped as much as 7.5% .
  • CEO Mark Blair said in a statement that accompanied results that the “top-line performance did not meet our internal targets” but that its “market leading retail performance post Covid-19 with sales growth of 37.8% in the base” was “always going to present a challenge”.
  • The company said 56% of its trading days had been interrupted by load shedding during the 26 weeks ended 1 October 2022.