Mr Price has posted a 6.3% increase in its first quarter (Q1) 2025 sales, benefitting from the Easter holidays shift in April.
The South African retailer’s sales reached R9bn ($511m) for the three months ending 28 June 2025.
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In April and May, the group reported sales growth of 11.3% and 11.9%,respectively.
However, in June 2025, it saw a 5.1% fall in retail sales.
Its strong performance in June 2024 was largely due to the late onset of winter, which resulted in pent-up customer demand in the early weeks of the month, further enhanced by a notable rise in consumer confidence following the country’s election outcome.
“The group anticipated the softer sales growth for June 2025; however, the impact of the shift in school holidays from the last two weeks into July was greater than expected. Higher markdown activity was required, which was observed across a highly promotional sector,” Mr Price stated.
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By GlobalDataSouth African retail sales grew by 6% to R8.3bn, with comparable sales rising 2.6%.
Non-South African corporate-owned store sales saw an increase of 10.4%.
Online sales also rose 7.6%, contributing to 2.4% of total retail sales during the period, with significant growth noted in the Homeware segment.
Other income for the retailer decreased 2.5% to R312.6m.
In the latest quarter, cash sales, which accounted for 87.5% of total retail sales, increased by 6.3%, while credit sales rose by 6.1%.
Mr Price has managed to grow its market share by 10 basis points during this period, bolstered by its strong value-focused fashion offerings.
According to the Retailers’ Liaison Committee, the retailer has captured more than R300m in market share from competitors over the past year.
Despite the challenges, the group remains optimistic about achieving margin accretive market share gains.
“These efforts, supported by the group’s fiscal discipline and considered capital allocation framework, give it confidence that it can achieve its medium-term targets and continued delivery of sustainable long-term returns,” noted the company.
