Pep and Ackermans’s clothing sales under pressure
Subsidiaries appeared to sell fewer items than in the prior period, with revenue growth lower than average price increases
22 November 2022 - 08:51
UPDATED 23 November 2022 - 05:07
Pep and Ackermans, which account for about two-thirds of Pepkor’s revenue, appeared to sell less clothing in the 2022 financial year than in the prior period, with revenue growth lower than average price increases.
Pressure on sales is expected as consumers bear the brunt of the rising cost of living, and competition in the low-income clothing space intensifies. ..
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