South Africa’s five dominant players in the listed clothing retailer space namely, Pepkor, TFG, Mr Price, Woolworths and Truworths, last had their best trading days on the JSE back in March2018, when their share prices peaked. The clothing sector had been marred by weak economic growth, subdued consumer confidence and declining earnings in previous months. According to Overberg Asset Management, the consensus view at the time was that the clothing retail sector would continue to rise over the next three years. Like many other sectors, clothing retailers found themselves amid unprecedented adversity during the Covid-19 pandemic, with revenues and margins under pressure, but with the exception that some players have weathered the storm better than their counterparts.

Source: News 24 June 03, 2021 11:37 UTC