The depression that hit JD Group's share price (down 60% in two years) reflects "scepticism that our strategy of splitting financial services from retail will work," says chairman David Sussman. The depression that hit JD Group's share price (down 60% in two years) reflects "scepticism that our strategy of splitting financial services from retail will work," says chairman David Sussman. Sussman was speaking after JD Group's AGM, where he received a working over from activist Theo Botha about the falling margins in the traditional retail business, which sells furniture and appliances to people through stores including Joshua Doore, Hi-Fi Corporation, Barnetts and Electric Express. Last year, JD Group went through a process of splitting its two core divisions: financial services, which provides credit and insurance for people to buy furniture, and selling furniture. After the divorce it became clear the hefty margins on financial services were subsidising the lazy retail business...
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