Fashion retailer Truworths’ annual profit rises as lockdown eases

JOHANNESBURG, Sept 2 (Reuters) – Fashion retailer Truworths International Ltd (TRUJ.J) reported a 26.8% increase in annual profit on Thursday as COVID-19 lockdown restrictions eased in South Africa.

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. Many shoppers were also defaulting or delaying paying their credit accounts.

While there have been no hard lockdowns in South Africa since stores reopened in May 2020, consumer spending remains subdued in the wake of various restrictions

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