CHRIS GILMOUR: Spar’s diversified regions infuse a nice rand-hedge flavour to the stock
Spar’s strategy of seeking growth outside SA has paid off, but weakness in the rand has not been fully reflected in recent results
02 June 2020 - 16:51
Having a March interim period means that Spar’s reporting includes one trading month affected by the coronavirus pandemic. Most other fast-moving goods retailers that have reported thus far have not included this important month.
Locally, the food distribution element of Spar’s southern African operations did well in the run-up to the coronavirus-related lockdown, as consumers stocked up in advance of the event. During March, however, its liquor chain, Tops, was unable to trade during the first few days of level 5 lockdown, as was its DIY chain, BuildIt. ..
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