Mr Price signs R3.3bn deal to take control of Studio 88
Fashion group Mr Price will buy a 70% stake in Studio 88 group, a sneaker and branded clothing retailer, paying R3.3bn in cash in its biggest acquisition to date. The deal will allow it to grow within the burgeoning township and informal economy, which is drawing interest from mainstream retail firms… Click here to read […]
Mr Price in another surprise acquisition, secures R3.3bn controlling stake in Studio 88
JSE-listed clothing, homeware and sport retail giant Mr Price has announced another surprise acquisition. This time it’s a R3.3 billion majority stake in unlisted Johannesburg-based clothing retail group Studio 88. Mr Price confirmed the deal in a Sens statement on Wednesday morning, saying the acquisition represents “a controlling shareholding in the Studio 88 Group”. The […]
Mr Price takes controlling stake in Studio 88
Retailer Mr Price says it has entered into a transaction agreement to acquire 70% of Blue Falcon, which owns the Studio 88 group of businesses, from RMB Ventures and the current management of the Studio 88 Group, for R3.3 billion. The transaction will be fully funded through the existing cash resources of the group, it […]
Mr Price to buy majority of Studio 88 in R3.3bn deal
Value fashion and homeware retailer Mr Price announced on Wednesday that it is acquiring 70% of the owner of Studio 88 Group, which includes the SideStep, John Craig, Skipper Bar brands, for R3.3 billion. Mr Price described the Studio 88 group, which operates over 700 stores, as the “largest independent retailer of branded leisure, lifestyle and […]
Mr Price Group’s shares surge on strong quarterly sales
Mr Price Group’s share price leapt more than 5 percent on Friday in intraday trade after announcing that retail sales and other group income grew by a whopping 19.2 percent to R9.3 billion in the quarter to January 1, 2022. The group said in a trading statement for the 13 months to January 1, 2022, […]
Mr Price ups Dividend by Over a Third as it Carves out Market Share
Retailer Mr Price says civil unrest in July cost it an estimated R320 million in lost sales, but it has still upped its interim dividend by more than a third amid market share gains. Group revenue rose 35.2% to R12.4 billion in the six months to October 2, it said on Thursday, with group retail […]
Mr Price expects half-year profit to surge by up to 40%
Mr Price expects half-year profit to surge by up to 40%. It’s set to place the group back at pre-pandemic levels. The group’s profit increase could have been closer to 50% if not for asset write-offs resulting from the July unrest, which saw 111 of its stores looted. Click here to read more