Leading clothing retailer, Truworths International, on Tuesday said group retail sales for the first 26 weeks ended December 28 2014 increased by 5.2 percent to R6.2 billion ($537.9 million) over the previous corresponding period.

The company said it posted credit sales growth of 5.4 percent and cash sales growth of 4.7 percent.
Credit sales comprised 71 percent of retail sales during the period under review.

Product inflation averaged 5.8 percent and trading space increased by 6.9 percent relative to the prior corresponding period.

Like-for-like retail sales declined by 0.8 percent compared to the prior corresponding period,” it said.

“The trade receivables book has increased by 8.5 percent over the prior corresponding period-end to R5.4 billion,” it added.

The company said it continued to utilise its extensive experience to manage the risk of fashion through its proven merchandise design and buying processes.

It will continue to manage credit risk through the on-going application of strategies to ensure the health of the
debtors’ book.

The group’s interim results for the period are scheduled for release on or about Thursday, 19 February 2015.