Last year MRP Sport did not meet expectations primarily due to merchandise issues, which we expect to be resolved over this coming year, MR Price Group CEO Stuart Bird reported in the company’s final results presentation for the 2018 financial year. Over the last few years the sports chain had replaced well-known brands with their own in-house brands.
MRP Sport grew sales by 2.7% (same store sales were down 4.5%) to R1.4bn — compared to 31% growth for the full Apparel division, of which MRP Sport is part.
Retail sales for the whole group grew 7.6% (same store growth 5.6%) to R20-bn.
During the year MRP Sport increased its number of stores 14% to 105, which includes one in Botswana and three in Namibia.