Stock weakness hits most of SA’s listed retailers hard
JOHANNESBURG – South Africa’s lacklustre economy, coupled with high unemployment, low business and consumer confidence, is curbing household spending and wiping off billions in value for some of the country’s listed retailers.
Massmart, which operates brands such as Game, Builders Warehouse and Makro, has lost 58.37percent on the JSE in the year to date.
Shoprite, Africa’s biggest food retailer, has fallen 35.68percent during the period, while Pick * Pay has weakened 12.39 percent and Spar has fallen 7.78percent.
Clothing retailer Truworths has lost 39.82percent, Mr Price has slashed 35.55 percent off its value, and The Foschini Group has lost 1.84percent.
Woolworths remains 0.05percent higher in the year to date, despite its problems, while Clicks has strengthened by 12.71percent in the year to date.
Source: iol.co.za
