South Africa-listed retailer Truworths was among the top performers on the Johannesburg exchange at the start of the week, even though it has warned its profits for the half-year to the end of December will most likely fall by as much as 9%. BizNews speaks to independent analyst Christopher Gilmour, who specialises in consumer industrial stocks, for his take on what’s driving the Truworths share price – and how he sizes up South African retailers.
– Jackie Cameron
Christopher Gilmour on what’s driving the Truworths share price:
It’s very difficult to try and work out what the next six months are going to bring. This is the first clothing retailer to bring out six months worth of results that haven’t been affected by proper lockdown in South Africa. As far as South Africa is concerned, it’s difficult to make any meaningful comparisons with the likes of TFG or Mr Price, for example, with different year ends.