If the festive season was cause for celebration on the JSE, January was the I’m-too-old-for-this hangover that few people expected. Truworths was the final straw, giving the sector another major knock to close out the month.
Truworths is down by almost 16% since the start of the year and some of the other big names are just as bad, like The Foschini Group, which is down by 15%, and Mr Price, which is down by more than 14%.
The Woolworths share price was given a parachute by the solid performance of Woolworths Food, so that’s down by “only” 6% this year. Pepkor hasn’t even released an update this year, yet it is down by more than 10% as the market panicked about the sector in general.
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