Mr Price: Strong balance sheet a plus in times of crisis
Share prices of clothing retailers have started to discount the anticipated bad news. But have they fallen enough to pique the interest of long-term investors?
The SA economy has suffered a number of body blows over recent years, which has meant managers have had to spend time on crisis management rather than business growth.
These experiences may well prove to have served as training wheels for business leaders as they navigate the impact that Covid-19 and the downgrade will have on the economy. Very few consumer-facing businesses will come out of this unscathed, with clothing retailers being particularly hard hit as disposable income dwindles.