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Mr Price trading update

Mr. Price stuck out a trading update yesterday, this was for their third quarter to end December, rather than the usual half year numbers that we have been seeing mostly. You would say that Mr. Price is a company that likes to offer fashion right now, at affordable prices, more affordable than their peer grouping. Perhaps in large part that has been the beauty of the success of the company, as they say in this release, they target young customers in the mid to upper LSM groups offering fashion at good prices. Against the corresponding quarter from the prior year, Mr. Price managed to grow sales by 14.2 percent, a fabulous achievement. The more I see from all of the clothing retailers (other than the first to report, Truworths), I am starting to get the sense that the average consumer is looking marginally better. What leads me to believe that the nearly three weeks that we have had this year so far (post the hurrah period) sales have been at a similar level from the prior quarter. The stock closed up 2.3 percent, near a record high.


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