CLOTHING RETAIL
Dark days for Mr Price
A raft of deals flatters the retailer’s top line, but organic growth is going backwards and the market is worried
26 January 2023 - 05:00
Mr Price is seething over the government’s abject failure to provide electricity, which is beginning to gouge a deep wound in the retailer’s performance.
Yet the company’s own lack of organic sales growth — power cuts aside — is becoming a real worry for the market, which punished Mr Price last week despite a record third-quarter sales performance (up 34% to R12.4bn)...
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