CHRIS GILMOUR: Shein removes the gloss from SA retailers
Mr Price, TFG and the like will continue to endure unfair competition unless the government takes action to curb the importation of cheap online fashion retailers from Asia
29 November 2023 - 05:00
A former darling of the JSE’s clothing retail sector, Mr Price, released its interim results last week. And while turnover rose sharply, even before the impact of acquisitions, bottom-line earnings slumped.
Mr Price is not unique in this regard; arch-rival TFG exhibited a similar situation recently, albeit for somewhat different reasons. The depressing aspect of Mr Price’s poor results is that they show just how cash-strapped SA consumers have become...
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