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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Half of Brits say they can’t stop online shopping in lockdown

Brits are turning to online shopping to boost their mood and fill their time during lockdown. Photo: Tim Goode/PA Wire/PA Images

With after-work drinks cancelled and weekend brunches postponed, Brits have turned to online shopping to fill their time and give themselves something to do.

In a survey of 1,500 UK adults by price comparison site Idealo, nearly half (48%) of Brits said online shopping has made them feel happier during the COVID-19 lockdown, with almost a third (31%) admitting to making a purchase every single week.

What’s more, nearly half said they have become “obsessed” with buying things online

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Buy now, pay whenever? Lockdown lift for online shopping loans

By Nikhil Nainan

(Reuters) – Browsing online during lockdown, Jessica Friend spotted a pair of Ray-Ban sunglasses she liked, but the price tag made the 30-year-old Ohio resident think twice.

What persuaded her to click ‘buy’, Friend said, was the short-term credit offered by Afterpay, which split the $260 payment into four interest-free instalments.

Afterpay is among a handful of alternative credit firms which offer small loans, mostly to online shoppers, and make their money by charging merchants a 4%-6% commission.

These buy-now-pay-later (BNPL) firms have benefited from a shift to online shopping during the coronavirus crisis in countries including

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