South African clothing retailers are moving forward with ambitious expansion plans, adding hundreds of new stores over the next year. This decision comes despite a downgrade in the economic growth forecast for the continent’s most industrialized economy. Pepkor Holdings Ltd., recognized as Africa’s largest clothing retailer, along with The Foschini Group Ltd. and Mr Price Group Ltd., are collectively planning to open up to 600 new outlets. These expansions will primarily focus on their discount brands, aiming to attract cost-conscious consumers.
— new from Bloomberg
