The great fray: when even Pepkor’s in the dwang
Pepkor was supposed to be the defensive JSE retailer. But its share price crash in the wake of disappointing numbers is a sign of investor capitulation
08 June 2023 - 05:00
Of all South Africa’s apparel retailers Pepkor was the one supposed to withstand a consumer downturn the best.
Shoppers, the argument went, would hurtle towards value brands such as Pep and Ackermans, but the performance of South Africa’s largest seller of low-income clothing shows that consumers are struggling to buy even the most basic items. Instead, they’re prioritising necessities...
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