Restaurant group Spur’s share price fell 7% to R26.01 on Monday morning after it warned shareholders of a decline in interim sales. The total group’s sales fell 2.6% to R3.7bn for the six months to end-December from the matching period in 2016, with the sharpest sales decline of 12.2% suffered by Captain DoRegos followed by 9.3% at its flagship Spur Steak Ranches chain. CEO Pierre van Tonder said Spur had suffered a perfect storm of disasters in March which included "social media fall-out following a customer incident in an outlet in Johannesburg", coupled with a plunge in consumer confidence following President Jacob Zuma’s Cabinet reshuffle.
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