Value apparel group Mr Price, synonymous with being a cash-based retailer until a few years ago, saw credit sales grow faster than cash sales in its past financial year as consumers crumble under immense financial pressure.
Along the way, it has incurred “a little more bad debt”, said Mark Stirton, Mr Price’s CFO, who gave an overview of the company’s financial performance for the year to April 1, 2023 on Thursday. – moneyweb