Racist incident blamed as Spur takes sales hit
The group has not won back customers who boycotted restaurants during the furore, analyst says
30 January 2018 - 06:00
Restaurant franchisor Spur Corporation struggled to lift half-year sales as it battled a weak economic climate, increased competition and a social media storm following a racist incident at one of its outlets. The share price fell as much as 7% on Monday morning after the group announced that half-year restaurant sales had fallen 2.6% to R3.7bn. By the end of the day it gained 0.93% to close at R28.26. The share price has gained 2.76% so far in 2018.
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