Truworths issues profit warning

SOUTH African retailer, Truworths International, says its profit for the half year ended December 27 — yet to be reported — will likely fall by between four percent and nine percent as its operations across the United Kingdom (UK) and South Africa were hit by weak spending amid Covid-19 restrictions.
The clothing, shoes, jewellery and homeware retailer said its overall headline earnings per share for the 26-week period ended December 27 will be between 332 and 350 cents as against 364,9 cents reported in the corresponding period last year.

Both South Africa and the UK are currently amongst the worst hit coronavirus destinations, especially due to a new, more contagious variant that has led to a sharp spike in cases.

While South Africa has allowed trading of business, it has asked citizens to stay indoors to curb the spread of the virus.
In the UK, new cases have forced the country into a stricter third lockdown. – Reuters.com