Finweek - English (Digital)

Finweek - English (Digital)

1 Issue, 19-oct-17

Tough times

Tough times
retailer Pick n Pay has warned of a tough first half, with earnings hurt by the cost of the company’s voluntary severance programme (VSP), which formed part of its turn-around strategy. Other initiatives include cutting operating costs and improving supply chain efficiencies. Excluding the impact of the VSP, headline earnings per share for the 26 weeks ended 27 August were expected to be between 10% and 15% higher. On the charts: Pick n Pay is trading out of its four-year bull trend – a negative breakout was confirmed below 6 050c/share – and is currently trading in a bear trend. On the monthly chart, the three-month relative strength index (RSI) negatively diverged in April 2016, before Pick n Pay peaked at 8 425c/share in July 2016. Signs of decelerating upside momentum became apparent…
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Finweek - English (Digital) - 1 Issue, 19-oct-17

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