Truworths annual profit jumps on eased Covid measures

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Truworths annual profit jumps on eased Covid measures: Fashion retailer Truworths International reported on Thursday a 49.9% rise in annual profit as consumers coming out of Covid-19 lockdowns splashed out on items to rejuvenate their wardrobes and homes

The global apparel industry has been recovering from a punishing 2020, when shops were forced to close to prevent the spread of Covid-19 and consumers switched formal dresses and shirts for sweat pants and lounge wear.

Truworths, which also owns UK-based shoe chain Office, said headline earnings per share, the main profit measure in South Africa, rose to 779.8 cents in the 53 weeks ended July 3.

 

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