South African fashion retailer Truworths warns on half-year profit

South African fashion retailer Truworths (TRUJ.J) on Monday warned that profit growth in the 26 weeks to Dec. 31 last year is likely to more than halve from the same period of 2022.

The company said financially constrained shoppers have held back from buying clothes and that local port congestion woes disrupted deliveries.

Truworths, which also owns British-based shoe chain Office, said half-year headline earnings per share would be up 4% at most, compared with 10.3% growth in the same period a year earlier.

Article and image originally appeared on Reuters