South African fashion retailer Truworths International said it expects half-year earnings to be broadly flat, as softer consumer spending weighed on sales across its African operations. In a trading update, the company said headline earnings per share for the six months ended December 28, 2025, are forecast to come in at roughly the same level as a year earlier, as reported by Reuters.
Truworths said group retail sales were largely unchanged during the period, despite key shopping events such as Black Friday and the Christmas season. Sales in its Truworths Africa segment declined by about 3.6 percent, reflecting continued pressure on household budgets in South Africa and other regional markets, according to figures cited by MarketScreener.
The weaker African performance was partly offset by stronger results from Office, the group’s UK-based footwear business, where sales rose by more than 6 percent in sterling terms. The company said margins improved slightly, supported by disciplined cost management and merchandising strategies, even as volumes remained under pressure.
Management said consumer conditions in its core African markets remain challenging but noted that the group’s diversified geographic footprint and balance sheet strength provide resilience. Analysts say Truworths’ outlook highlights the uneven recovery in discretionary spending across markets, with international operations helping to cushion softer demand at home, as noted in market commentary referenced by Reuters.
