Retail: Nice at the price?
BY ROB ROSE AND STAFFORD THOMAS, FEBRUARY 05 2016, 11:48
AS A stock analyst with nearly two decades’ experience, Sasfin Bank’s Alec Abraham has seen a number of high-flying companies crash back to earth. In recent months, he became concerned about what he saw as an alarming shift in focus from the one-time darling of the clothing retail sector, Mr Price.
“For years, Mr Price’s philosophy was to provide designer fashion at an affordable price. It got them a prime slice of that higher income market, and it worked exceedingly well,” says Abraham.
He isn’t exaggerating: the company hit a sweet spot that few others were brave enough to try …