Staff Writer
Truworths International Limited has reported steady performance for the first 18 weeks of its 2026 financial year, with total retail sales holding at R7.2 billion despite mixed results across its African and UK operations.
The group operates 33 stores outside South Africa, including 12 in Namibia, 12 in Botswana, five in Eswatini, two in Zambia and two in Lesotho. The retailer continues to trade on stock exchanges in South Africa, Namibia, Australia and the United Kingdom.
Office UK delivered solid growth with a 6% rise in sales in sterling terms. Strong online activity and partnerships with leading global footwear and sneaker brands supported the segment. In rand terms, Office UK sales increased 7.7% to R2.7 billion, and online sales made up 42.6% of the segment’s total sales.
Truworths Africa recorded a 4% decline in retail sales as trading slowed compared to last year when promotions boosted volumes. The company said gross profit margins improved, showing stronger pricing discipline and efficiency. Online sales in South Africa increased 23.3% and now account for 8.3% of segment sales, up from 6.4%.
The company continued its cautious credit stance in the tough economic environment, tightening access for higher-risk customers. While this reduced credit sales, it improved the quality of trade receivables. Active account holders able to purchase rose to 80 percent, and overdue balances dropped to 16 percent of total trade receivables. Gross active trade receivables stood at N$6.1 billion, down from N$6.3 billion a year earlier.
Despite tighter credit controls, new account openings increased, showing ongoing consumer interest in the retailer’s brands. The consolidation of distribution centres is now complete, with operations at the new facility fully implemented. Trading space for Truworths Africa is set to grow by 1 percent by June 2026.
The group reported a strong balance sheet supported by cash generation, allowing the reinstatement of its share buyback programme in September 2025.
Truworths expects further growth opportunities, particularly in the UK, where trading space is projected to expand by 10 to 12% this year. The South African business will continue focusing on efficiency, disciplined credit management and online growth.
The retailer will release its interim financial results for the 26-week period ending 28 December 2025 around 26 February 2026.
