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South African fashion retailer Truworths International Ltd reported a 32,2 percent increase in half-year profit yesterday, sending its shares up more than 8 percent as its business recovered to pre-pandemic levels due to eased restrictions.
The global apparel industry is recovering from a punishing 2020, when shops were forced to close to prevent the spread of Covid-19 and consumers switched formal dresses and shirts for sweat pants and lounge wear.
By 1416 GMT, Truworths shares were up 8,17 percent to R64,21, on track for their biggest daily jump in close to nine months. The retailer also owns UK-based shoe chain office. — Moneyweb.
Online Reporter