Pepkor hit by nonpayment of Covid-19 grants but enjoys great success in Brazil
Clothing sales dipped in April and May and picked up in July after payouts were back on track
28 July 2022 - 20:25
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. ..
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.