How to make sense of the market’s reaction to Pick n Pay’s results, released last week?
The retailer’s shares slumped 9% on the day, stumping some analysts given its 11.5% rise in half-year revenue, to R51.3bn, and a 22% rise in pretax profit to R588m. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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Making sense of Pick n Pay’s puzzling market movesShares in the retailer have seesawed wildly since it first released a trading update in early October, and analysts are split over its prospects. Most annoying that with aggressive marketing, they don’t have items advertised. Learning from last week where I went in especially for dishwasher tablets, called in & now told the deal “until it’s gone” but they never received stock! Tried 3 stores close by for same story! 🤬
Source: FinancialMail - 🏆 20. / 63 Read more »