Some clothing chains will have an edge in the race to recover from the lockdown
SA's fashion retailers, battered by the strict early lockdown measures to curb the spread of Covid-19, face a long road to recovery, but some will bounce back faster than others, presenting an opportunity for investors.Momentum Securities head of research Stephen Meintjes said this week the current cold snap should provide a fillip to clothing retailers, but warned that overall, a"lot of people would have probably decided they can do without new clothes for a while".
Another pick for Meintjes was Pepkor, which owns Pep and Ackermans. He said these brands, which cater for lower-LSM consumers, could benefit from a"lot of people trading down".However, Meintjes said this sector would also experience some pain because a"lot of people may just not have jobs or money" due to the economic fallout from the pandemic.
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