Pepkor warns of fall in annual profit as consumers struggle
The low-cost retailer sees headline earnings per share shrinking 5.2%-15.2%
Low-cost retailer Pepkor has flagged a drop in annual profit as power cuts, unemployment and increased living costs cut into the disposable income of its customers.
“Their ability to earn an income remains negatively impacted by high unemployment, continued electricity supply interruptions as a result of load-shedding and disruption in the payment of social grants,” the company said on Thursday about its coming annual results announcement...
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