Pepkor to focus on discount clothing and reduce Africa expansion
Retailer lost R5bn in sales due to lockdowns in a challenging year
23 November 2020 - 08:22
UPDATED 23 November 2020 - 20:05
Pepkor, which fell into a R3bn loss, is still committed to expanding its clothing chains Ackermans and Pep as the group believes it can keep stealing market share from other retailers. This is as constrained consumers hunt for value.
The group opened 145 Pep stores and Ackermans in the 2020 year to end-September and CEO Leon Lourens told Business Day that the group plans to increase that number next year...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.