For many decades the grocery retail sector in South Africa has been dominated by two major players – Pick ‘n Pay and Shoprite. During much of that time, Raymond Ackerman dominated the market and Shoprite/Checkers played second fiddle under former CEO, Whitey Basson. Following Ackerman’s retirement, Pick ‘n Pay went into a slump and Basson was able to steer Shoprite into a position of dominance by
The COVID-19 pandemic has hit few listed companies on the JSE as badly as City Lodge. Business and holiday travel has slowed to a crawl and occupancy in the second half of March 2020 fell to a dismal 16,7%. KPMG, the City Lodge auditors, drew attention to the fact that in the 9 months to 31st March 2020 the company lost R316 000 which left it in a position where its liabilities
On 24th June 2019 we published an article under the heading “New Gold Bull” in which we drew your attention to the fact that the US dollar price of gold had broken up convincingly above resistance at around $1340. Below is the chart which we included with that article.
You can see here the clear upside breakout above the upper
A picture is beginning to emerge of the performance of the US economy as the pandemic progresses. The second quarter’s statistics point to a very sharp contraction, as was to be expected, but the second quarter was probably the worst quarter. The US economy’s gross domestic product (GDP) shrank by 9,5% in the quarter – which was expected given the widespread