{"id":16519,"date":"2012-11-08T20:43:17","date_gmt":"2012-11-08T18:43:17","guid":{"rendered":"http:\/\/www.myza.co.za\/11\/update-2-s-african-retailers-gain-as-debt-fuels-more-shopping\/"},"modified":"2012-11-08T20:43:17","modified_gmt":"2012-11-08T18:43:17","slug":"update-2-s-african-retailers-gain-as-debt-fuels-more-shopping","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-s-african-retailers-gain-as-debt-fuels-more-shopping\/","title":{"rendered":"UPDATE 2-S.African retailers gain as debt fuels more shopping"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Truworths 18-weeks sales up 16 percent<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Foschini&#8217;s H1 sales up 12.6 percent<\/p>\n<p><span><\/span><\/p>\n<p>* Shares in both companies up between 2-3 percent<\/p>\n<p> (Adds Truworths, updates shares)<\/p>\n<p><span><\/span><\/p>\n<p>By Tiisetso Motsoeneng<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Nov 8 (Reuters) &#8211; South African retailers<br \/>\nFoschini and Truworths reported a jump in<br \/>\nsales on Thursday, boosting their stock prices further as<br \/>\ninvestors bet consumers will carry on shopping thanks to wage<br \/>\nincreases, cheap borrowing and government grants.<\/p>\n<p><span><\/span><\/p>\n<p>Share prices for retailers in Africa&#8217;s top economy have<br \/>\nsurged over the past two years, with some more than doubling,<br \/>\nwhich is beginning to give some investors cause for concern.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We don&#8217;t believe that you can carry on seeing this kind of<br \/>\ngrowth,&#8221; said Nic Norman-Smith, chief investment officer at<br \/>\nLentus Asset Management in Johannesburg.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;You&#8217;ve got an increasingly indebted consumer base who are<br \/>\nfeeling stronger because they&#8217;re earning more. They&#8217;re even more<br \/>\nbullish to take on more debt.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Household debt in South Africa stands at 76 percent of<br \/>\ndisposable income, according to government statistics, while the<br \/>\nunemployment rate is stuck at about 25 percent.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Truworths 18-weeks sales up 16 percent * Foschini&#8217;s H1 sales up 12.6 percent * Shares in both companies up between 2-3 percent (Adds Truworths, updates shares) By Tiisetso Motsoeneng JOHANNESBURG, Nov 8 (Reuters) &#8211; South African retailers Foschini and Truworths reported a jump in sales on Thursday, boosting their stock prices further as investors [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-16519","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16519","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=16519"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16519\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}