South African fashion giant Truworths has unveiled a trading update that paints a picture of two very different realities. For the first 18 weeks of its 2026 financial year, the group’s overall sales were flat, but this static headline masks a dramatic divergence between its international and local operations.
While its UK-based shoe chain, Office, strutted ahead with strong growth, its core African business struggled to find its footing, highlighting the intense pressure on South African consumers.
Office Delivers a Standout Performance
The clear winner in this period was Office. The trendy footwear retailer posted a robust 6% increase in retail sales, reaching £113.3 million. The company credited “strong demand in fashion footwear and a broad customer appeal” for the positive performance, suggesting its brand resonance and product mix are hitting the mark with British shoppers.
This growth overseas provided a crucial counterbalance to the challenges back home.
Truworths Africa: A Story of Cautious Consumers and Strategic Shifts
In stark contrast, Truworths Africa reported a 4% drop in retail sales, which fell to R4.5 billion. The company noted that this was partly due to the comparison with last year’s figures, which were boosted by heavy promotional activity.
However, the decline points to a deeper issue: strained consumer wallets. A key indicator of this pressure is the performance of its famed credit book. The number of active credit accounts decreased by 2.8%, and gross trade receivables shrank by 3.5%.
This wasn’t an accident but a strategic choice. Truworths explicitly stated it has “adopted a cautious approach to credit extension over the last 12 to 18 months, particularly to higher-risk credit customers, due to the challenging macroeconomic conditions in South Africa.”
In essence, the company is lending less because many of its customers are finding it harder to pay back. The silver lining is that this caution has improved the overall quality of its debt, with more customers paying on time and fewer falling behind.
Amid the challenges, one bright spot emerged: online sales for the Africa division surged by 23.3%, now accounting for 8.3% of its revenue. This signals a significant shift in how South Africans are choosing to shop.
The company also hinted at broader changes, stating that “several strategic initiatives have been initiated to reposition Truworths Africa for the future.” While details remain under wraps, it’s clear that the retailer recognizes the need for a new playbook to navigate the current tough trading environment.
