MARKET WRAP: Spar leads JSE gains as lockdown creates revenue fillip
The group’s annual turnover increased by 13.5% as consumers opt for local and convenience stores rather than crowded malls
18 November 2020 - 18:30
Spar outperformed the overall JSE on Wednesday after a surprising increase in annual revenue, while global sentiment continues to be driven by increasing Covid-19 cases, tempered by hope that a vaccine will soon be widely available.
Shares in the retail group rose the most in 16 years after it said it has benefited from a Covid-19-induced trend with consumers opting for local and convenience stores rather than crowded malls, with revenue jumping by double digits in its year to end-September...
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