Pepkor gains share in lower-income market

SA’s largest non-grocery retailer Pepkor says it has grown market share as consumers hunted for deals in the six months to end-March, while also benefiting from increased demand for electronics as consumers were forced to work and study at home.

Pepkor, which owns brands Pep, Ackermans and Incredible Connection, has fared better than some of its peers as SA’s underpressure consumers trade down. Strong cash generation helped the group cut debt by more than half to R6.1bn in its six months to end-March...

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