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MR PRICE GROUP LTDMR PRICE GROUP LTDMR PRICE GROUP LTD

MR PRICE GROUP LTD

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MRP trade ideas

Our opinion on the current state of MR-PRICE(MRP)Mr. Price (MRP) is a retailer of clothing, household goods, and sportswear through shop fronts and online in Africa and Australia. Unlike most retailers, Mr. Price receives most of its sales in cash, but there is a growing credit element. Mr. Price has a reputation for being cheaper than other stores. This was a definite advantage during COVID-19 as consumers tried to stretch the buying power of their income. In our view, this is a good share doing extremely well in a very difficult industry, especially in the current economic environment in South Africa. There is little doubt that Mr. Price has grown its market share at the expense of other clothing retailers during the COVID-19 period. On 15th March 2021, the company announced the acquisition of Yuppiechef, a primarily online retail kitchenware business for an undisclosed amount. On 13th April 2022, the company announced that it had purchased 70% of Blue Falcon Trading for R3,3bn in cash. Blue Falcon is the "...largest independent retailer of branded leisure, lifestyle and sporting apparel and footwear in South Africa." In its results for the 52 weeks to 30th March 2024, the company reported retail sales up 16,2% and headline earnings per share (HEPS) up 6,7%. The company said, "Despite a challenging retail environment, the group delivered a strong second half performance as diluted headline earnings per share grew 17.4%, due to significantly improved sales momentum, GP margin expanding 160bps to 40.6% and market share gains of 90bps." In a trading update for the 13 weeks to 29th June 2024, the company reported retail sales up 4,6% with comparable sales down 0,2%. The company said, "The group has gained market share for 11 consecutive months and on a 12-month rolling basis has gained just over R1.1bn in market share." Technically, the share was in a downward trend from April 2022. On 23rd November 2023, the share broke up through its downward trendline at a price of 16055c indicating a new upward trend. It has since moved up to 20899c. In our view, this is a very high-quality share that should be accumulated on weakness. On a P:E of 16,25 it still looks like good value.
JSE:MRP
by PDSnetSA
Our opinion on the current state of MRPMr. Price (MRP) is a retailer of clothing, household goods and sportswear through shop fronts and online in Africa and Australia. Unlike most retailers, Mr. Price receives most of its sales in cash, but there is a growing credit element. Mr. Price has a reputation for being cheaper than other stores. This was a definite advantage during COVID-19 as consumers tried to stretch the buying power of their income. In our view, this is a good share doing extremely well in a very difficult industry, especially in the current economic environment in South Africa. Its P:E ratio of 12,89 seems cheap while the company is well-positioned to ride out these economic hard times and then benefit from any improvement in the economy. There is little doubt that Mr. Price has grown its market share at the expense of other clothing retailers during the COVID-19 period. On 21st July 2021 the company reported on the impact of the unrest and looting saying, "...the damage caused by looting did not increase materially beyond what was first reported and totals 111 stores. At one stage over five hundred of the group’s stores were temporarily closed but has now significantly reduced to 20 temporary store closures." On 15th March 2021, the company announced the acquisition of Yuppiechef, a primarily online retail kitchenware business for an undisclosed amount. On 13th April 2022 the company announced that it had purchased 70% of Blue Falcon Trading for R3,3bn in cash. Blue Falcon is the "...largest independent retailer of branded leisure, lifestyle and sporting apparel and footwear in South Africa". In its results for the 26 weeks to 30th September 2023 the company reported revenue up 26,4% and headline earnings per share (HEPS) down 9,3%. The company said, "Loadshedding, was four times higher in Q1 than the same period in the prior year. During this period the group spent R140m to accelerate its back-up power solutions. The poor economic and consumer retail environments, including double digit inflation in food and public transport". In an update on the 13 weeks to 30th December 2023 the company reported comparable store sales up 4,1% and group retail sales up 9,9%. The company said, "Our group's growth was led by our flagship division Mr Price Apparel, and further supported by strong sales growth from our acquisitions". Technically, the share was in a downward trend since April 2022. On 23rd November 2023 the share broke up through its downward trendline at a price of 16055c indicating a new upward trend. It has since moved up to 17086c. In our view, this is a very high quality share that should be accumulated on weakness. Since its peak on 12th April 2022 the share has been drifting down and sideways. On a P:E of 14,73 it looks like good value.
JSE:MRP
by PDSnetSA
Mr Price ready to break above the W to R209.60W Formation is forming on Mr Price. It's been in a consolidation range since March, which prior that was in a continuous downtrend since April 2022. Now the price has broken above the downtrend, which is currently testing the support. And if it breaks above and through the neckline, we will see upside to come for the retail giant. This also falls in line with the Christmas Rally that normally takes place in December with the buying rush on both consumer and investor side. 7>21 - Bullish RSI>50 Target R209.60
JSE:MRPLong
by Timonrosso
Our opinion on the current state of MRPMr. Price (MRP) is a retailer of clothing, household goods and sportswear through shop fronts and online in Africa and Australia. Unlike most retailers, Mr. Price receives most of its sales in cash, but there is a growing credit element. Mr. Price has a reputation for being cheaper than other stores. This was a definite advantage during COVID-19 as consumers tried to stretch the buying power of their income. In our view, this is a good share doing extremely well in a very difficult industry, especially in the current economic environment in South Africa. Its P:E ratio of 12,89 seems cheap while the company is well-positioned to ride out these economic hard times and then benefit from any improvement in the economy. There is little doubt that Mr. Price has grown its market share at the expense of other clothing retailers during the COVID-19 period. On 21st July 2021 the company reported on the impact of the unrest and looting saying, "...the damage caused by looting did not increase materially beyond what was first reported and totals 111 stores. At one stage over five hundred of the group’s stores were temporarily closed but has now significantly reduced to 20 temporary store closures." On 15th March 2021, the company announced the acquisition of Yuppiechef, a primarily online retail kitchenware business for an undisclosed amount. On 13th April 2022 the company announced that it had purchased 70% of Blue Falcon Trading for R3,3bn in cash. Blue Falcon is the "...largest independent retailer of branded leisure, lifestyle and sporting apparel and footwear in South Africa". In its results for the 26 weeks to 30th September 2023 the company reported revenue up 26,4% and headline earnings per share (HEPS) down 9,3%. The company said, "Loadshedding, was four times higher in Q1 than the same period in the prior year. During this period the group spent R140m to accelerate its back-up power solutions. The poor economic and consumer retail environments, including double digit inflation in food and public transport". Technically, the share has been in a downward trend since April 2022, but we believe that it is currently underpriced. On 23rd November v2023 the share broke up through its downward trendline indicating a new upward trend. In our view, this is a very high quality share that should be accumulated on weakness. Since its peak on 12th April 2022 the share has been drifting down and sideways. On a P:E of 13,32 and a dividend yield (DY) of 5,2% is looks like good value, but it could fall further in this bear market.
JSE:MRP
by PDSnetSA
Mr. Price - One to Watch CloselyMr. Price recently confirmed 01 June as a weekly low, it is now in the second daily cycle and dropping into a half cycle correction that usually comes around day 27 to 32. This it must do without going lower than R138.35, the overall market conditions are what makes Mr. Price vulnerable. The share has somewhat of a blue rising wedge that appears to be breaking down as well, date of interest for half cycle correct is the circle where there is double support, should we get there, we can expect a bounce but any lower than R138.35 means lower for longer.
JSE:MRP
by runyamhere
Mr price breaking up bullishMr Price We are observing a symmetrical triangle, within a falling channel. However, this pattern could indicate a bullish breakout. Currently, the 7-day moving average is greater than the 21-day moving average. The price is less than 200, and the RSI is above 50, pointing to some buying pressure. Given these factors, the target price is projected to be R190.00. Symmetrical triangle (falling channel) MAs 7>21 Price <200 RSI >50 Target R190.00 Mr Price: The company Mr. Price Group Limited is a fashion-value retailer, operating mainly in the apparel, homeware and sportswear segments. This South African company, also known as MRP, was established in 1985 and has since grown into a well-known international retail chain. Mr. Price Group has more than 1,000 corporate-owned stores, along with a significant number of franchise stores in markets outside of South Africa. The company also operates a strong online shopping platform which complements their physical retail presence.
JSE:MRPLong
by Sahle
MRP: Seeking a Yearly Low ConfirmationPreviously we mapped the bearish cycle for Mr. Price, now we have seen price reacted off the 200 month moving average, now seeking to confirm a weekly low along the way to the yearly low. On the daily chart we are extended and in time for a half cycle high, a pullback from here would be a good entry for those who were left behind in this share. Levels to watch: Green line - confirmation of a weekly low closing above this line on a weekly chart Pink line (furthest above) - confirmation of the monthly low above this line
JSE:MRPLong
by runyamhere
3
MR PRICE - Reversal SetupThe stock has formed a decent bottoming pattern on above average volume which has a measured move target that could see it back at the gap left behind after the November 2022 sens. (R184) Hurdles in between will be R156.50 & R165 levels The cup & handle pattern will be in play while price stays above R136. A cup and handle pattern is a bullish continuation pattern that resembles a cup and handle where the cup is in the shape of a “U” and the handle has a slight downward drift. The right-hand side of the pattern typically has low trading volume. It can be used as an entry pattern for the continuation of an established bullish trend. The cup should not be overly deep, and the handle should not be overly long or too short. The pattern is considered to be confirmed when the price breaks out of the handle in an upward direction .
JSE:MRPLong
by Trader-Dan
Mr Price 15 Month Channel - continues but heading up to R153.25Mr Price has been in a lingering downtrend channel since March 2022. It's been a trading haven for range bounded traders who look for this kind of activity. However for a breakout trader, it's been a waiting game. So best we buy at the bottom of the range sell at the top and repeat. Right now the price is heading back to R153.25. If we get a breakout, we'll buy more. If it turns down, I'll send out the next signal. Let's wait and see! ~ Mr Price Group Ltd. was established in 1985 and is headquartered in Durban, South Africa. ~ The company operates various retail brands, including Mr Price, Mr Price Sport, Mr Price Home, Miladys, Sheet Street, and Power Fashion. ~ Mr Price primarily targets the value-conscious consumer market by offering trendy and affordable fashion and lifestyle products. ~ The company started as a small store called "Mr Price" in Durban and gradually expanded its operations to become a prominent retail group in South Africa. ~ The name "Mr Price" was chosen to represent the company's focus on providing good value for money and affordable prices to its customers. ~ The company has also expanded internationally and operates stores in other African countries, including Namibia, Botswana, Lesotho, Eswatini, and Ghana. CHANGE IN NAME Over time, the company has rebranded its stores to display the name "MRP" instead of "Mr Price." They did this to appeal to a wider customer base. Despite the change in store branding, the company's official name remains Mr Price Group Ltd.
JSE:MRPLong
by Timonrosso
MR PRICE (MRP)- There is a possibility of a medium-term trend reversal for MRP as the price approaches the lower boundary of the channel, which could act as a potential support level. - This support level has the potential to launch a new upward movement in the share price. - RSI is showing signs of moving out of the oversold area, indicating a potential buy signal. - RSI and MA crossover: The RSI and Moving Average (MA) lines have recently crossed over. This crossover pattern has previously occurred in December 2022 and March 2023, coinciding with the price finding support at the bottom of the channel. - Target 140.50
JSE:MRPLong
by MarketMeistersTrading