Discount and value retailers have been big beneficiaries as cash-strapped consumers shop for bargains in an increasingly tight economy.

Mr Price admits that it has also benefitted from the temporary relief measures provided by government, including the temporary employee/employer relief scheme (TERS) and the Covid relief grant, which have largely come to an end. That means the true state of the consumer environment is mostly likely to be revealed in the short to medium term.

In the meantime, both it and Pepkor, owner of the Pep and Ackermans chains, have continued to grow their share of the apparel market. Their shares rallied yesterday after they released their latest financial statements, which revealed a strong recovery from last year's trading restrictions.

Lewis Group has also done well as South Africans kitted out their homes during the various lockdowns, boosting sales of furniture and electronics.

More on those stories in your final newsletter for the week, along with results from Life Healthcare, Afrimat and Tharisa plc.

Have a great weekend.

Stephen Gunnion

Managing Editor, InceConnect