Covid-19 Further Delays TRUWzw HY-20 Result Release

Author Name
Rugare Mukanganga
Author
Markets 2 weeks ago

ZSE-listed international retailer Truworths was recently granted an extended grace period for their HY-20 result publication. This follows periodic operational disruptions in the company's 2020 Q1 and Q2, a period characterised by

  • Staff adjustments to remote working
  • Partial and in some cases complete halt in trading of their stores as well as
  • Reduced trading hours when stores were permitted to operate

The "sub-optimal working arrangement" in the six months ended January 2021 and general market trends in the local retail space point towards

  • Downward volume performance in the period
  • An upward trend in operational expenses and possible staff rationalisation 
  • Lower earnings than prior year performance

The market should expect Truworths' HY-20 results on or before 10 May 2021.


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