Pepkor expects up to 40% drop in earnings

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The clothing and furniture retailer said it lost R5bn in sales for the almost five-week store closure in lockdown level 5

Pepkor, owner of Ackermans, HiFi Corporation and Shoe City has warned that its full-year headline earnings per share to end-September could drop 30.5% to 40.5%.

Including its construction business in its HEPS, earnings will fall between 38.2% and 28.2%, to between 59.8c and 69.8c. Sales at computer and technology stores, Incredible Connection and HiFi Corporation, also spiked 37.7% in the three months from July to end-September, likely boosted by more people working from home.

 

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