Mr. Price Group Limited reported trading update for the period from 1 October 2023 to 30 December 2023. The group recorded growth in retail sales of 9.9% to ZAR 13.2 billion. Comparable store sales were up 4.1%.

The total comparable market's retail sales per the Retailers' Liaison Committee (RLC) grew 3.4%, resulting in the group gaining 130bps market share over the Period. As experienced by the broader retail market, the quarter started slowly in October and improved into November. The total comparable market's retail sales grew 0.8% cumulatively in these two months while the group recorded growth of 5.3%.

The group gained 80bps of market share over these months, including during the key Black Friday week. Performance improved significantly in December as group retail sales grew 15.5% (comparable store sales up 8.0%), at higher gross margin % than the prior year.