JSE-listed fashion retailer, Mr Price, on Wednesday said overall sales of the firm surged 14 percent in the first 18 weeks of the year to March 2014.

This sent the share price on an upward trajectory, gaining 0.88 percent in late trade on the JSE.

Mr Price has operations in Namibia, Botswana, Kenya, Tanzania, Malawi and South Africa.

In a trading update released on Wednesday, Mr Price said units sold surged 6.1 percent during the period under review.

The firm said South Africa’s credit climate continued to be tough. However, the company is pleased that all the plans started in the previous year to cut credit sales expansion have not harmed sales growth.

The company sells mainly for cash with cash sales comprising 80.4 percent of total sales.

In terms of the company’s strategy and business model, Mr Price plans to remain a cash business.

This will continue to differentiate the group from its peers and produce cash flows that will finance the firm’s sustained expansion and allow for a lucrative dividend.

The company uses what it calls a value model, which it says is at the core of the group’s being. This means lower mark-ups and selling higher volumes in order to offer ‘everyday low prices’.

Mr. Price was founded in 1885 and listed on the JSE since 1952.

The store has changed names many times since its launch, including John Orrs and Hub.

The first Mr Price opened in 1987 after the current owners bought a controlling interest in John Orrs.