for subscribers

Mr Price shares dive on tough winter season

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Johannesburg – Mr Price retail sales increased by a mere 1%, according to its trading update for the 18 weeks ended 6 August 2016.

Following the update, the shares dropped 16% to R184.47 at the close in Johannesburg, the biggest decline since January 15, according to Bloomberg. Almost 6.4 million shares traded, or 4.8 times the three-month daily average.

The share plunge, Business Day reported, essentially wiped off R10bn of the retailer’s market value.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.11
(+0.04)
ZAR/GBP
20.23
(+0.01)
ZAR/EUR
18.02
(-0.04)
ZAR/AUD
11.12
(+0.08)
ZAR/JPY
0.14
(-0.06)
Gold
1810.29
(+0.13)
Silver
23.40
(+0.31)
Platinum
968.00
(+0.97)
Brent Crude
48.73
(+1.57)
Palladium
2359.00
(+2.04)
All Share
57742.19
(-0.03)
Top 40
52940.79
(-0.20)
Financial 15
11641.10
(-0.29)
Industrial 25
79835.50
(-0.36)
Resource 10
52605.42
(+0.07)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
22% - 336 votes
No, I did not.
51% - 790 votes
My landlord refused
27% - 427 votes
Vote