Mr Price will ramp up its capital expenditure to R1.6bn with the bulk of the money going into new stores and upgrades of existing outlets as well as the supply chain. The company opened 184 stores in the year to the end of March, taking the total to 3,030. The bulk of the new stores were in the apparel segment, at 154, of which 74 were Studio 88.
For the 2026 financial year, the owner of Yuppie Chef, Miladys and Power Fashion plans to open 200 new stores.
Group CEO Mark Blair said capex was being “put into areas that will generate the best returns”.
The company reported group retail sales of R39.4bn, up 7.8% for the year to March. It said customers continued to prefer cash transactions, which constituted 89.3% of group retail sales.
The apparel segment increased retail sales by 7.9% to R31.4bn, while the homeware segment, which includes Mr Price Home and Yuppiechef, continued its recovery, reporting retail sales growth of 6.4% to R6.7bn.
Mr Price Cellular and Powercell increased sales by 13.2% to R1.3bn for the year to March. They primarily sell handsets and accessories through 562 store-in-store concepts and 61 stand-alone stores.
“The first half of the financial year was challenging for the retail sector but improved in the second half,” Blair said. Mr Price apparel gained over R700m in market share from competitors in the last year, he said.
Group retail sales from April to May in the first quarter of the 2026 financial year increased 11.6%, with all trading divisions gaining market share.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.