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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