Major South African retailer rolling out stores across the country

Mr Price crossed 3,000 stores in its network in its 2025 financial year, with 184 new stores opened during this period.

Mr Price is one of South Africa’s biggest retailers, with operations in the apparel, homeware, sportswear, financial services and telecoms segments. Its brands include Mr Price, Mr Price Home, Mr Price Sport, Miladys, Yuppiechef, and Studio 88.

Mr Price released its results for the 52 weeks ended 29 March 2025 on Friday, 6 June, which revealed a strong performance for the retailer.

Total revenue increased by 7.9% to R40.9 billion, and the group gained 50 basis points of market share. 

Mr Price’s gross margin expanded 80 basis points to 40.5%, and the group achieved a record operating profit level of R5.8 billion, with its operating margin increasing 20 basis points to 14.2%.

Basic and headline earnings per share of 1,416.3 cents and 1,424.0 cents were up 11.0% and 10.7%, respectively. 

Group retail sales of R39.4 billion increased 7.8%, and comparable store sales increased 3.4%. Group store sales increased 7.8% and online sales 7.9%.

Group unit sales increased 3.6%, and Mr Price recorded retail selling price inflation of 3.7%.

The group also surpassed 3,000 stores during the period, as it opened 184 new stores across its 15 trading chains, expanding its total store footprint to 3,030 stores. 

Mr Price’s profit from operating activities increased 8.9% to R5.8 billion, with strong growth of 11.7% in H2. Total expenses increased 10.0%, which included net weighted average space growth of 4.3%. 

The group’s expenses to retail sales and other revenue ratio of 27.9% was within its targeted range. It said all other costs were carefully managed, resulting in the operating margin expanding 20 basis points to 14.2%, at the midpoint of the group’s medium-term targeted range. 

Mr Price further reported that its customers continued to prefer to transact with cash, as its cash sales constituted 89.3% of group retail sales and increased 7.9%. 

The retailer explained that interest rate cuts in the second half of the year supported an improving credit environment, reflected in the group’s approval rate increasing to 20.3% and peaking at 23.8% in March 2025. 

It said credit approvals will continue to be cautiously managed, while the group’s lay-by offering gained further support.

“The first half of the financial year was challenging for the retail sector but improved in the second half,” CEO Mark Blair said. 

“We are very satisfied to have gained similar levels of market share in both periodsreflectingng the value we were able to provide our customers despite very different economic conditions.” 

“The growth in sales momentum through the second half was supported by strong comparable store sales growth and GP margin gains across all trading segments.’

Mr Price declared a final dividend of 593.5 cents per share, up 12.7% from the previous year.