Pepkor grows quarterly revenue 6%

The retailers revenue rose to R19.5bn during the quarter.
Pepkor reports revenue growth. Picture: Waldo Swiegers, Bloomberg

South African retailer Pepkor, previously Steinhoff Africa Retail, said on Monday its quarterly revenue rose by 6.1% in the three months to end-December.

The clothing and furniture retailer said revenue for the quarter rose to R19.5 billion ($1.43 billion), while the clothing and general merchandise segment reported sales growth of 6.1% compared to the same period a year ago.

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The “Devil is in the Detail”……

R16 billion debt, more than twice the size of Edcon’s debt.

Why is Reporting of Ackerman’s & Pep business not stated separately?

Take out the Pep Cellular figures out of Pep Clothing then figures will tell a very sad and different story re Pep.

The growths are very sad when one sees retail space increase by 4% yet sales growth was 2.7%. Then take out inflation, so actual growth was 1.1%

The defensive market position strategy will catch-up with Pepkor just like what happened to Marks & Spencer’s who controlled the UK market once upon a time.

The CEO must be relieved of his position a.s.a.p. before more damage is done Hashtage… MeToo !!

Very good points. Sudden departure of the former longtime CEO a shock not fully understood by the market. Seems it is every man for himself now and the real victims are the minority shareholders. Not hastag MeToo hastag Steinhoff2. Lots and lots of drama to come as Steinhoff continues to unravel. Going to be a very interesting AGM.

End of comments.

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