Latest news with #MrPriceSport
The Citizen
10-08-2025
- Lifestyle
- The Citizen
One woman's bold career rewrite
FORMER journalist and Musgrave resident Nokuthula Zola Phoswa is narrating her own story and carving her path to success as she climbs the corporate ladder at Mr Price Sport, where she was recently promoted to public relations and special projects co-ordinator. Switching careers over two years ago, after more than a decade of being a news reporter, Phoswa has entered a space where she is now the one that must answer questions instead of asking them. The change was not an easy one for Phoswa, who made the move in her mid-30's. She said, 'I was drawn by the opportunity to challenge myself in new ways. After over a decade in journalism and media, I felt it was time to use my voice and experience differently — not just telling stories but shaping them from the inside. The transition has been both humbling and rewarding. It pushed me to grow, adapt, and trust myself all over again.' Also Read: Women's Month kicks off with girls' football workshop Taking a leap that so many women fear, due to responsibilities and the unknown, the mother-of-one said switching the script was necessary. 'It's a daily exercise in resilience and self-belief. There are moments where you have to speak louder, stand taller, and remind yourself that you absolutely belong in the room. I've learnt to trust my expertise, lean on mentors, and advocate not just for myself, but for other women coming up in the space too.' In 2023, Phoswa joined Mr Price Sport as a copywriter and excelled, leading to a promotion. The career-changing move also transcended to her personal life. 'Over a year ago, I joined a gym and results have been fantastic. I look and feel healthier.' She encouraged other women who are still searching for their perfect path to be brave enough to take the first step. 'I feel fortunate to have strong women in my life that are supporting me in my journey,' said Phoswa. Also Read: Women's Day not just a holiday for festivities She added, 'I draw strength from many women — my mother, who taught me grace under pressure; my friends, who remind me that vulnerability is a form of courage; and the everyday women who rise, despite the odds. They inspire me by simply showing up — fully, unapologetically, and with heart. Their resilience fuels mine.' As we celebrate Women's Month, Phoswa emphasised the importance of celebrating women's achievements and acknowledging their strength. She said, 'Women's Month is a time to honour the power of women and all the incredible things we accomplish. We often underestimate our ability to start over or shift gears. We're natural-born multi-taskers, capable of conquering multiple roles effortlessly. Women have superpowers. We juggle so many responsibilities and continue to rise, inspire, and lead. Fear is real but so is potential.' Her advice to the women of South Africa and the rest of the world: 'Take the risk — even if it's a small one. Growth doesn't always come with a perfect plan. You're never too old to reinvent yourself or pursue something that fulfils you. Prioritise progress over perfection, and don't let fear of failure be louder than your desire to thrive.' For more from Northglen News, follow us on Facebook , X or Instagram. You can also check out our videos on our YouTube channel or follow us on TikTok. Click to subscribe to our newsletter – here
IOL News
28-06-2025
- Business
- IOL News
Mr Price celebrates 40 years of growth, with ambitious plans for the future
Mr Price Sport store at Canal Walk, Century City. Image: IAN LANDSBERG Independent Newspapers. 'This year marks 40 years since the opening of the first Mr Price store, and as we celebrate this milestone, we reflect on a journey driven by a bold vision: to make fashion accessible to all South Africans,' said Mark Blair, the CEO of Mr Price, in the retailer's annual report released on Friday. Since those early days, Mr Price has grown to 3,030 stores, generated over R40 billion in revenue, achieved a market capitalisation of R65 billion, and reached an operating profit nearing R6 billion. Blair emphasized that the core principles established at the company's inception—low-cost operations, bulk purchasing, minimal markups, and cash-based retailing—continue to underpin its business model. 'These fundamentals have allowed us to consistently deliver high-quality fashion at affordable prices, fueling our growth and resilience over the decades,' he noted. Looking ahead to the first quarter of the 2025 financial year, Blair highlighted the ongoing challenges within South Africa's constrained economy. However, after the national elections and the formation of the Government of National Unity (GNU), consumer confidence surged, creating a more favorable environment for retail during the latter half of 2024. Despite challenges posed by the global economy and domestic concerns over the stability of the GNU - along with uncertainty surrounding the national budget and potential VAT hikes - Mr Price made significant gains. The retailer increased its market share by 50 basis points (bps) according to the Retailers' Liaison Committee (excluding Studio 88 and Mr Price Sport), 120 bps per Stats SA (including all divisions), and 40 bps in telecoms, based on GfK data. Gross margin rose by 80 bps in both merchandise and cellular segments. Operating profit grew by 8.9%, with each of the company's three main sectors contributing meaningfully. Blair also noted that the three businesses acquired in recent years achieved a combined operating profit of R1.2 billion, a testament to Mr Price's disciplined approach to acquisitions. 'We are selective in our acquisitions, ensuring they align with our stringent investment criteria and support our long-term growth goals,' Blair explained. However, Blair expressed regret that the company didn't meet its stock turn target due to unpredictable supply chain disruptions, particularly from shipping delays and Durban Port challenges. On a positive note, stock arrivals were earlier than expected, signaling improvements in the supply chain. 'This suggests that our adjustments to buffer supply chain lead times are beginning to show results,' he added. Looking to the future, Blair remains optimistic that market volatility will stabilise. With falling interest rates and a focus on economic growth and employment from the GNU, he expects consumer spending to recover. In April and May of the new financial year, sales were up 11.6%, setting a strong tone for 2026. Mr Price's recent investments and capital allocation decisions have positioned the group for success, even as the retail landscape improves. In the past year, the company invested R830 million, opening 184 new stores, which have already exceeded return expectations. Looking ahead, Mr Price plans to increase capital expenditure to R1.6 billion in 2026 - the highest in its history. This will include the opening of 200 new stores, further investments in store expansions and technology, and the development of a new Gauteng distribution center slated to go live by September 2026. 'Our vision remains ambitious, and every investment we make is aimed at delivering long-term earnings growth and advancing our group's strategic goals,' Blair stated. 'Our Apex strategy team is working diligently to identify and evaluate opportunities that align with this vision, and we will share our plans with the market at the appropriate time.' BUSINESS REPORT Visit:
