Mr Price's recent acquisition of NKD in Europe was reflected in its financial results for the first time, contributing to a 45% increase in retail in the first quarter to June 30.
Mr Price Group’s recent European acquisition has begun to impact the top line, as group retail sales increased a staggering 45,3% to R3,1 billion in the 13 weeks to June 27.
The value clothing and homeware retail group said in a trading statement Thursday the increase in retail sales for the first quarter of its financial year followed the inclusion of NKD Group, the value apparel and homeware retailer headquartered in Germany, effective March 31, 2026.
Excluding NKD, retail sales in Africa increased 3,2% to R9,3bn, which nonetheless exceeded national average retail sales growth as measured by the Retailers' Liaison Committee (RLC) of 0,8%.
Mr Price’s directors said the competitor environment was promotional during the period and intensified in June. However, their plan to grow sales ahead of the market, but not at the expense of gross margin, was achieved, with African gross margin expanding by 40 basis points.
