Some of the most notable business successes during the Covid era have been those supplying superyachts and other such fripperies to high net worth individuals who have gone from HNWI to VVHNWI status and want to indulge in some good old-fashioned willy-waving to celebrate. Anything that allows you to isolate yourself from the great unwashed has been flying off the shelves as travel pivots towards private jet to helipad to poop deck rather than a package deal to the Costa.

But at the other end of the spectrum there is also money to be made by the sharpest of operators as endlessly squeezed consumers try to extract the last cent of value from what little loot they have left, and this is where Pepkor has been thriving. There are few things more laser-focused than the local consumer in search of a bargain. Shoppers who might otherwise have flirted with its rivals have been piling through the doors, and the company has grown headline earnings per share by 50.6% in the past six mont...

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