Truworths posts 7.3 percent drop in annual profit, appoints David Pfaff to COO

In a tough economic environment in South Africa and in the UK, Truworths Group said that its retail sales for the 52-week period ended July 1, 2018 remained unchanged at 18 billion rand (1.2 billion dollars). Relative to the 53-week prior reporting period ended July 2, 2017, Group retail sales decreased by 2.7 percent. The company added that headline earnings per share (HEPS) and diluted HEPS decreased by 1 percent to 615.7 cents and 1.3 percent to 612.7 cents respectively relative to the comparable prior period. Relative to the 53-week prior period, HEPS and diluted HEPS decreased by 7 percent and 7.3 percent respectively.