The retail sector in SA does not look healthy.
One example is - embattled Edcon recently decided to shut down its massive Rosebank Edgars store.
Last year they closed down other under-performing stores.
How bad really, is South Africa's retail sector?
This is somewhat self-imposed over the retail sector. We've had huge store expansion. It's not all on the back of a weak consumer. They continue to open a lot of space. Unfortunately we think it's going to get worse before it gets better.— Evan Walker, portfolio manager - 36ONE
I don't think consumers are feeling very confident. We're not going to feel confident after the Eskom increase coming in April. South Africa looks quite constrained.— Evan Walker, portfolio manager - 36ONE
There's no doubt that businesses need to reinvent themselves. People are also moving aggressively to online shopping.
I think to a large extent as well they don't offer the level of service required for people to buy what they need.— Evan Walker, portfolio manager - 36ONE
Listen to the full interview on the retail sector below.
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