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.
Shares in South African retailer Mr Price Group tumbled nearly 18 percent on Friday, their biggest one-day drop in more than 15 years, after the company’s third-quarter sales figures disappointed.
The discount fashion and homeware retailer said sales … Read on
SHARE WATCH: 5 stock picks to keep your eye on Jan 24 2016 15:19 Kirk Swart
Cape Town – Here are five shares to watch amid the market selloff, according to an analyst at Overberg Asset Management.
1) Mr Price [JSE:MRP]
Mr Price released their third quarter trading update … Read on
Mr Price warns of tough times ahead
Ray Mahlaka | 19 November 2015 00:06
Mr Price’s budget-conscious offering, which has made the retailer defensive in recent years, is seemingly falling out of fashion among investors. That’s if Wednesday’s performance on the market was anything to go by.
Mr Price’s stock finished 5.52% lower to R202.19, perhaps indicative of investor fears of trading conditions … Read on
The allure of South African retailers for foreign investors has been the promise of expansion into the rest of the continent. But, as evidenced by Woolworths abandoning its Nigerian adventures some three years ago, choosing to further its ambitions in Australia instead, that expansion has not been easy.
Now Mr Price, which along with Cape Town-based Woolworths has been the biggest benefactor of foreign investor favour, is also finding its African strategy coming under strain.
The Durban-based retailer … Read the article