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Slow economic growth and further inflationary pressure on consumers
High product inflation owing to Rand weakness will impact summer ranges
New affordability assessment regulations remain a key risk to profitability although impact could be lessened through successful mitigation strategies
Uncertainty following decision to withdraw from European Union and muted consumer sentiment
However, environment likely to stabilise as more clarity emerges on Brexit consequences
Office stock management and ranges to benefit from Truworths' influence as the year progresses
Readers should note the following references throughout the Integrated Report:
Truworths International Ltd and its subsidiaries is referred to as ‘the Group'
Truworths International Ltd is referred to as 'Truworths International' or 'the company'
The Group excluding Office is referred to as 'Truworths'
Office Holdings Ltd is referred to as ‘Office'
Our Business Philosophy is core to the success of the business and is therefore integral to creating sustainable value
Governance in the Group extends beyond compliance and is aimed at improving corporate performance, which aims ultimately to enhance value for our stakeholders.
The Office acquisition will have a profound impact on the Group by diversifying the customer base and geographic store profile, growing footwear as a proportion of retail sales, shifting the credit:cash sales mix, diversifying revenue streams and generating hard currency earnings in offshore markets.
The Truworths portfolio of brands and specialist branded emporium stores offer an enticement to youthful and fashionable consumers to shop for quality apparel merchandise of international standard.