Load shedding and heavy downpours hurts Mr Price
JOHANNESBURG –
Mr Price, South Africa’s fashion and home giant retailer said earlier today that load shedding and heavy downpours had weighed heavily on the business in December.
Mr Price, South Africa’s fashion and home giant retailer said earlier today that load shedding and heavy downpours had weighed heavily on the business in December.
“Business activity in key weeks in December was materially affected by stage six rolling power blackouts and prolonged periods of torrential rain in the inland areas, partially diluting the anticipated impact of the extra week of school holidays,” the company said in its trading update for the 13 weeks ended December.
Eskom’s rolling blackouts in December crippled South Africa’s and earlier this month the World Bank cut the country’s economic growth forecast to below 1 percent for 2020 due to load shedding.
Source: iol.co.za
