Ditch clothing retailers, Investec advises investors
Pressure on consumers will affect TFG, Mr Price, Woolworths and Truworths, financial services company says
26 October 2022 - 21:05
Investec urged clients in a note on Wednesday to sell clothing retailers TFG, Mr Price, Woolworths and Truworths, removing its previous “hold” recommendation.
The financial services company thinks clothing retailers’ earnings will be lower than share prices suggest as SA’s consumers come under increasing pressure, which is forcing them to cut back on discretionary spending...
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