We've probably all done it at sometime or another - whether we know it or not. Perhaps it was that cheap box of cigarettes from the corner stall, maybe the Foakleys bought at the intersection... or even the replica football jersey from the Sunday market because we all know the cost of those authentic jerseys at the mall is just daylight robbery. You know what I'm talking about. Counterfeit goods. And why should we care? Who does it hurt? No really...
Who does it hurt?
In other news last week, Edcon made a
massive deal with Absa, selling the group's private label store card portfolio to the bank for a cool R10 billion. Moody's calls the move "
credit positive", that is if the proceeds go toward easing some of the company's debt.
Coming up this week, you can expect April's retail trade sales figures on Wednesday, with wholesale trade stats following on Thursday. The
forecast for the retail sales is expected to slow, despite the slew of holidays during April. I feel inclined to give those "enforced rest periods" a little more credit than that, but we'll just have to see, won't we?
Have a great week everyone!
Shan Radcliffe, Retail editor
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