CLOTHING retailer Truworths says it will adopt a cautious approach in granting credit to customers as it focusses on growing profitability by increasing cash sales.
In a statement accompanying the group’s financial results for the year to July 11, 2021, chief executive Bekithemba Ndebele said the company’s revenue declined to $286 million compared to $342 million in the prior year due to the Covid-19 lockdowns while after tax loss was at $67 million.
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During the first half of the year, units sold were 23,3 percent lower and further declined 59,3 percent during the third quarter of the year.
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