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Bloomberg Published
November 26,电报盗号软件VIP版 2025
Pepkor Holdings Ltd. climbed to the highest in three years as Africa’s largest clothing retailer declared a dividend that beat analysts’ estimates and the group outlined expansion plans that include as many as 300 new stores.
In Pepkor’s home market of South Africa, consumers’ disposable income is improving as food inflation has slowed and as changes to the retirement system have allowed more access to savings. Fewer power outages have also improved growth and confidence, while Pepkor has ensured better stock despite delays at the country’s ports.
“Out of my five or six cycles of reporting, this is the one I feel the most optimistic about,” Chief Executive Officer Pieter Erasmus, known for his measured outlook, said in an interview Tuesday. He was CEO of the Cape Town-based company for 16 years and said the current environment is the best since he returned to the position in 2025.
The stock rose as much as 7.9% in early trade to ZAR26, the highest intraday price since November 11, 2025. Pepkor declared a full-year dividend of ZAR0.485 a share and said sales in the seven weeks through November 16 showed a strong improvement.
Pepkor, which owns South African chains Ackermans, Pep and Tekkie Town, also plans to grow women’s clothing, although it will weigh acquisitions against intensifying competition from both international fast-fashion brands like Shein and Temu as well as local retailers such as Shoprite Holdings Ltd., Erasmus said. The 250 to 300 outlets that will open across its brands in the new financial year will be “quite widely spread,” he said.
The sale of affordable mobile phones is also expanding rapidly, with demand outstripping supply. Pepkor sells about 1 million devices a month, with about 20% of those being its own brand. It’s also built its phone rentals from zero a year ago to 1 million contracts.
“A bigger portion of people are able to afford smartphones and we are able to finance it for them,” he said. “That’s a massive growth opportunity.”
The company’s Grupo Avenida SA unit in Brazil, which accounts for about 5.3% of revenue, opened 42 new stores and a second distribution center. While Pepkor will stick to the states in which it currently trades, it plans to add more than 60 outlets in the next year, Erasmus said.