Truworths CEO Michael Mark 'cautiously positive' about consumer outlook

Truworths CEO Michael Mark is hopeful of some improvements in the struggling consumer environment in the second half of the year, saying the market should start seeing a stabilisation of indebtedness levels among South Africans.

Speaking after the release of the retailer's interim results on Thursday, Mark said there were signs that the credit health of South African consumers was not deteriorating as much as before. He cited the latest TransUnion Consumer Credit Index of 47 as evidence there were signs of stabilisation.

He said typically any score under 50 "indicates the credit health is deteriorating", but that the current score was still better than the upper thirties, where it was about four months ago.