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Pepkor, the owner of Ackermans and Pep, is the third retailer to highlight how nonpayment of the R350 social relief of distress grant in April and May hit earnings, until its resumption in July led to an uptick in sales. 

Both Mr Price and TFG this week blamed nonpayment of the grant for sales slumps in April and May, with all three retailers noting that sales rose in July after recipients had received their grants again. ..

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