Higher charges lift Mr Price sales 28% July 27, 2007
Mr Price Group's first-quarter sales climbed 28 percent after it increased prices, the clothing and linens retailer said yesterday.
Revenue from clothing stores surged 31 percent in the three months to June, while sales from its homeware unit gained 22 percent, the company said.
Prices rose 7.3 percent on average for clothing and 11 percent for homeware.
Sales growth for the rest of the year would be "more challenging given the impact of interest rate increases" and stricter credit laws.
Mr Price and its Sheet Street, Miladys and Mr Price Home chains have expanded to tap a surge in spending sparked by interest rate cuts in early 2006. - Bloomberg, New York
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