Pepkor posts lower profit on slower clothing demand
Low-cost retailer is focusing on its discount and value offerings amid high inflation and rates
30 May 2023 - 09:49
UPDATED 30 May 2023 - 21:00
The share price of low-cost retailer Pepkor dropped by as much as 12% in intraday trade, as it reported selling lower volumes of clothing in the six months to end-March, with Ackermans’ sales dropping 8.3%.
The group’s results are a clear sign that cash-strapped consumers are cutting back — with good school uniform sales in January, but a fall in sales from February...
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.