- The trading and credit environment is expected to remain difficult.
- To mitigate the negative environment and to improve sales, Truworths and Topics have introduced the Home and Living concept which expands our range into household SMALL ELECTRICALS and ELECTRONICS.
- The concept was introduced in May for credit card customers and was well received.
- Improvement of the credit card offering by reducing interest charge per month from 2.0% to 1.5% and reducing the service fee from 1.2% to 0.5%. This took effect from September 01 2014.
- Re-aligning occupancy costs to the level of current trading. Certain site rentals have been re-aligned with effect from July 2014 and August 2014, there is still more work to be done.
- Offering a wider range of price points to improve customer affordability.
- No significant store additions and refurbishments so as to conserve cash.
- Reducing stock levels in line with reduced business volumes.
- Effective management of credit risk to minimise trade receivable costs.
2014 annual report