This will increase the number of African stores operating outside
In the past financial year
In the six months ended
Whitey Basson, the CEO of
The retailer however posted an overall 8 percent surge in headline earnings per share in the period under review, described as the lowest interim profit increase in eight years.
The blame for this poor performance during the period has been laid squarely on the door of major job losses, high consumers' indebtedness and high petrol prices in
Basson admitted in
What these numbers are telling you is: the consumer environment is incredibly tough in South Africa, Reuben Bleeders, an analyst at Gryphon Asset Management, told Reuters.
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