Pepkor gains share in lower-income market

SA’s largest non-grocery retailer Pepkor says it has grown market share as consumers hunted for deals in the six months to end-March, while also benefiting from increased demand for electronics as consumers were forced to work and study at home.

Pepkor, which owns brands Pep, Ackermans and Incredible Connection, has fared better than some of its peers as SA’s underpressure consumers trade down. Strong cash generation helped the group cut debt by more than half to R6.1bn in its six months to end-March...A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

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Pepkor expects half-year earnings to risePepkor says this has been supported by growth at its discount clothing business.
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BUSINESS MAVERICK: Trading statement: Pepkor buoyed by demand for furniture and electronicsThe Steinhoff-owned retail group Pepkor has reported a strong rise in demand for furniture and electronics, but it has also grown its share of the clothing market.
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