Iconic South African clothing retailer rolling out stores

Mr Price’s 2026 financial year is off to a solid start, as the first half of the year recorded strong sales and profit growth, despite a dampened consumer environment.

Mr Price is one of South Africa’s biggest apparel retailers, known for brands like Miladys, Sheet Street, Yuppiechef, Mr Price Home, and Studio 88.

On Thursday, 20 November, Mr Price released its interim results for the 26 weeks ended 27 September 2025.

These results revealed that Mr Price recorded revenue growth of 5.4% to R18.6 billion and retail sales growth of 5.5% to R17.8 billion, marginally above the market’s average of 5.3%.

However, comparable store sales only increased by 2.1%, with the retailer explaining that the first quarter of the year was characterised by shifting school holiday periods and base effects.

Therefore, Mr Price recorded first-quarter retail sales growth of 6.3%, which also resulted in market share gains, but faced gross profit margin compression due to the markdowns required in June. 

In contrast, the second quarter, which saw fresh spring and summer inputs sold at full price, saw lower growth levels of 4.7% but an improved gross profit margin.

For the six-month period,  Mr Price’s gross profit margin expanded by 30 basis points to 40% and basic and headline earnings growth of 6.5% to 512.8 cents and 513 cents, respectively.

The retailer made a net profit of R1.82 billion for the period, up 7.7% compared to the first half of its 2025 financial year.

In addition, Mr Price opened 91 new stores in the six-month period, growing its network to 3,100 stores.

“I am pleased that we have once again executed our strategic intent of maximising sales growth at improved margins,” CEO Mark Blair said. 

“Our gross margin increased despite a very challenging retail environment. Our value-focused business model enabled us to effectively manage overheads and ensure that we consistently deliver positive earnings growth and returns to shareholders.”

Mr Price declared an interim dividend of 323.2 cents per share, up 6.5% compared to its previous interim dividend.