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PEPKOR HOLDINGS LTDPEPKOR HOLDINGS LTDPEPKOR HOLDINGS LTD

PEPKOR HOLDINGS LTD

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Our opinion on the current state of PEPKORH(PPH)Pepkor Holdings (PPH), previously known as Pep, is 71.01% owned by Steinhoff International. Following the collapse of the Steinhoff group due to admitted "accounting irregularities," the directors decided to revert to the name Pepkor Holdings to distance the company from negative publicity. The group operates well-known retail brands, including Ackermans, PEP Stores, Bradlows, and HiFi Corporation. Since the Steinhoff scandal in December 2017 and the impact of the COVID-19 pandemic, Pepkor's share price fell to as low as R10 per share in May 2020. However, the company staged a strong recovery over the next year, more than doubling in value. To strengthen its financial position, Pepkor raised R1.9 billion through an accelerated book-build, using the proceeds to reduce debt as a precautionary measure. On 3rd February 2022, Pepkor announced the acquisition of 87% of the Brazilian clothing retailer Avenida, expanding its international footprint. However, in April 2022, the company's Isipingo distribution center suffered significant flood damage in KwaZulu-Natal, leading to a temporary closure. The company confirmed that it had adequate insurance to cover the losses. In its results for the year to 30th September 2024, Pepkor reported revenue growth of 7.8%, with headline earnings per share (HEPS) increasing by 10.3% on a comparable basis. However, its net asset value (NAV) fell slightly by 1% to 1,588.5 cents per share. The company highlighted, "The Clothing and General Merchandise segment (CGM) increased revenue by 5.2% to R61.4 billion (7.0% on a 52-week basis), while the Furniture, Appliances and Electronics segment (FAE) increased revenue by 4.5% to R11.0 billion." In a trading update for the three months to 31st December 2024, Pepkor reported group revenue up 12.1%, with traditional retail sales increasing by 9.5%. The company stated, "Performance was driven by robust sales growth and market share gains in traditional retail, with significant growth sustained in fintech. Gross profit margin improved, mainly driven by the growth in the Fintech segment." Technically, the share has been in a strong upward trend since May 2023, and this momentum appears likely to continue. While Pepkor remains a high-quality investment, it is potentially vulnerable to declines in consumer spending. A significant development occurred on 23rd September 2024 when Pepkor was added to the JSE Top 40 index, replacing Amplats. This inclusion is expected to attract increased institutional interest, further strengthening its position in the market.
JSE:PPH
by PDSnetSA
Our opinion on the current state of PEPKORH(PPH)Pepkor Holdings (PPH), previously known simply as Pep, is a South African retail group predominantly owned by Steinhoff International, which holds 71.01% of its shares. Following the collapse of Steinhoff due to accounting irregularities, Pepkor rebranded to distance itself from the negative publicity associated with its parent company. Pepkor operates several well-known retail brands, including Ackermans, PEP Stores, Bradlows, and HiFi Corporation. The share price experienced significant volatility, dropping as low as R10 in May 2020 during the height of the COVID-19 pandemic. However, it subsequently staged a remarkable recovery, more than doubling in value. The company capitalized on this recovery by raising R1.9 billion through an accelerated book-build, which was used primarily to reduce debt as a precautionary measure. In February 2022, Pepkor announced its acquisition of 87% of Brazilian clothing retailer Avenida, aiming to expand its footprint in the South American market. However, in April 2022, the company faced challenges when its Isipingo distribution center sustained significant damage from flooding in the Natal area, although it reported adequate insurance coverage for the losses incurred. For the six months ending March 31, 2024, Pepkor reported a 9.5% increase in revenue, while headline earnings per share (HEPS) declined by 3.8%. The company attributed the revenue growth to market share expansion and recovery in retail gross profit margins, particularly with its Avenida operations. Looking ahead, in a trading statement for the year ending September 30, 2024, Pepkor estimated HEPS would fall between a loss of 132.5c and 146.5c, compared to a loss of 140.8c in the previous year. The group recognized a significant R2.7 billion impairment of goodwill and intangible assets during this period. Technically, the share has been trading sideways and downward since November 2021, indicating potential vulnerability to economic conditions, particularly lower levels of consumer spending. However, the company was recently added to the JSE Top 40 index, replacing Amplats, which is expected to enhance its visibility and attract increased institutional interest. Despite the challenges, Pepkor is viewed as a good quality investment with opportunities for growth, especially as it continues to expand its retail offerings.
JSE:PPH
by PDSnetSA
Our opinion on the current state of PEPKORH(PPH)Pepkor Holdings (PPH), formerly known as Pep, is 71.01% owned by Steinhoff International. Following the collapse of Steinhoff due to admissions of "accounting irregularities," Pepkor rebranded to distance itself from the negative publicity associated with its parent company. The group includes well-known retail brands such as Ackermans, PEP Stores, Bradlows, and HiFi Corporation. Since Steinhoff's troubles in December 2017 and the impact of the COVID-19 pandemic, Pepkor's share price plummeted to as low as R10 per share in May 2020. However, the company staged a remarkable recovery, more than doubling in the following year. Pepkor raised R1.9 billion in an accelerated book-build, using the proceeds to reduce debt as a precautionary measure. On 3rd February 2022, Pepkor announced the acquisition of 87% of the Brazilian clothing retailer Avenida. Later, on 13th April 2022, the company reported that its Isipingo distribution center suffered significant damage due to flooding in the Natal area, temporarily closing the facility. The company confirmed it had adequate insurance coverage to manage the losses. In its results for the six months ending 31st March 2024, Pepkor reported a 9.5% increase in revenue, though headline earnings per share (HEPS) declined by 3.8%. The company stated, "Sales growth strengthened further in the second quarter - Market share expansion on three-, six-, and 12-month basis (Retailers' Liaison Committee (RLC) March 2024) - Recovery in retail gross profit margin - Avenida expansion accelerated and ahead of plan." Technically, the share has been trending sideways and downwards since November 2021, and it remains vulnerable to fluctuations in consumer spending. While Pepkor is a solid investment, it could be impacted by lower consumer confidence and spending. On 23rd September 2024, PPH was added to the JSE Top 40 index, replacing Amplats. This inclusion is expected to draw more institutional interest and potentially improve its trading volume and visibility in the market.
JSE:PPH
by PDSnetSA
PPH with Potential False BreakdownThe monthly chart of PPH shows we had a falling wedge from which price broke to the downside, we have had a swing low on the monthly chart, if we recover the wedge we will have confirmation that the move down was a false breakdown, this will be a very bullish setup with price expected to move swiftly to close above the purple resistance. Stop-Loss If we get price going below R16.03 we would have a failed daily cycle meaning there is a high chance we go lower than recent low.
JSE:PPHLong
by runyamhere
Our opinion on the current state of PEPKORH(PPH)Pepkor Holdings (PPH), previously known as Pep, is 71.01% owned by Steinhoff International. Following the collapse of the Steinhoff group due to admissions of "accounting irregularities," the directors of Pep decided to change their name back to Pepkor Holdings to avoid negative publicity. The group includes Ackermans, PEP Stores, Bradlows, and HiFi Corporation. Since the problem began in December 2017, and with the COVID-19 pandemic, the share price fell as low as R10 per share in May 2020. Over the next year, the share staged a remarkable recovery, more than doubling. The company raised R1.9bn in an accelerated book-build, with the proceeds used to reduce debt as a precautionary measure. On 3rd February 2022, the company announced the acquisition of 87% of the Brazilian clothing retailer Avenida. On 13th April 2022, the company announced that its Isipingo distribution center had suffered significant damage due to the flooding in the Natal area and had to be temporarily closed. The company has adequate insurance to cover the damage. In its results for the six months to 31st March 2024, the company reported revenue up 9.5% and headline earnings per share (HEPS) down 3.8%. The company said, "Sales growth strengthened further in the second quarter - Market share expansion on three-, six- and 12-month basis (Retailers' Liaison Committee (RLC) March 2024) - Recovery in retail gross profit margin - Avenida expansion accelerated and ahead of plan." Technically, the share has been moving sideways and downwards since November 2021 and remains vulnerable. Despite this, Pepkor Holdings is seen as a good quality investment, but it is potentially vulnerable to lower levels of consumer spending. Investors should consider the broader economic context and the company's exposure to consumer behavior, especially in times of economic uncertainty.
JSE:PPH
by PDSnetSA
Our opinion on the current state of PPHPepkor Holdings (Pep) (PPH), previously known as Pep, is 71,01% owned by Steinhoff International. With the collapse of the Steinhoff group following admissions of "accounting irregularities", the directors of Pep decided to change their name back to Pepkor Holdings to avoid negative publicity. The group includes Ackermans, PEP Stores and Bradlows and HiFi Corporation. Since the problem began in December 2017, and with the COVID-19 pandemic the share price fell as low as R10 per share in May 2020. Over the next year the share staged a remarkable recovery, more than doubling. The company raised R1,9bn in an accelerated book-build. The proceeds have been used to reduce debt as a precautionary measure. On 3rd February 2022 the company announced that acquisition of 87% of the Brazilian clothing retailer Avenida. On 13th April 2022 the company announced that its Isipingo distribution center had suffered significant damage as a result of the flooding in the Natal area and had to be temporarily closed. The company has adequate insurance to cover the damage. In its results for the year to 30th September 2023 the company reported revenue up 7,7% and headline earnings per share (HEPS) down 8,2%. The company's net asset value (NAV) fell 6% to 1604,9c per share. The company said, "Trading improved during the second half of the year, supported by a 53rd trading week in the group's South Africa-based clothing and general merchandise retail brands. Market share gains were achieved in key product categories. The lost trading hours more than doubled this year, reaching 845 000 hours, and diesel costs surged by 69% to R141 million for the year. The group has bolstered its operational resilience, with 84% of the store base now equipped with alternative power sources". In an update on the 3 months to 31st December 2023 the company reported revenue up 7,2%. The company said, "On a 3-, 6-, and 12-month rolling basis PEP gained market share in key categories including babies, kids, school and home." Technically, the share is in a strong new upward trend and should be watched closely.
JSE:PPH
by PDSnetSA
$JSEPPH - Pepkor: It's A Slow & Steady Grind See link below for previous analysis. Pepkor held above 1330 and though it initially looked as if the move would be a powerful impulse off that low, price has trended upwards in a very choppy manner. I am looking at the advance unfolding as a leading diagonal so I am expecting more choppy price action in the short-term. The overall trend is still looking bullish though we can expect a pullback after the completion of five waves up.
JSE:PPHLong
by Loyiso_BlaqueSoros_Mpeta
Our opinion on the current state of PPHPepkor Holdings (Pep) (PPH), previously known as Pep, is 71,01% owned by Steinhoff International. With the collapse of the Steinhoff group following admissions of "accounting irregularities", the directors of Pep decided to change their name back to Pepkor Holdings to avoid negative publicity. The group includes Ackermans, PEP Stores and Bradlows and HiFi Corporation. Since the problem began in December 2017, and with the COVID-19 pandemic the share price fell as low as R10 per share in May 2020. Over the next year the share staged a remarkable recovery, more than doubling. The company raised R1,9bn in an accelerated book-build. The proceeds have been used to reduce debt as a precautionary measure. On 3rd February 2022 the company announced that acquisition of 87% of the Brazilian clothing retailer Avenida. On 13th April 2022 the company announced that its Isipingo distribution center had suffered significant damage as a result of the flooding in the Natal area and had to be temporarily closed. The company has adequate insurance to cover the damage. In its results for the six months to 31st March 2023 the company reported revenue up 4,3% and headline earnings per share (HEPS) up 11,7%. The company said, "Feedback from our customers indicate that they have no choice but to prioritise spending on necessities. Customers’ ability to earn an income and their shopping behaviour is also impacted by unprecedented levels of electricity load shedding". In a trading statement and trading update for the year to 30th September 2023 the company estimated that HEPS from continuing operations would fall by between 5,2% and 15,2%. Merchandise sales were up 7,9% for the year and revenue rose by 7,7%. Technically, the share appears to be at the start of a new upward trend and should be watched closely.
JSE:PPH
by PDSnetSA
JSE's PEPKOR for a move to R19.50 before resuming downtrend?JSE:PPH found support around R9.60 in mid 2020 and went on a rally to retest the R27.40 highs of December 2017, effectively closing the first week of November 2021 with a shooting star after being pushed to the downside from R27.59. Price has been on a downtrend since then and is currently in a corrective phase in the form of a bearish flag, taking a potential short term 17%-gain creep from current levels to retest the R19.50~R20.30 zone where a rejection is expected before an impulsive sell-off takes place to retest levels around R9.60. The instrument would have to trade well above 21.30 to raise the ears of buyers, and above R24.00 to invalidate the market's overall long term bearish sentiments. Like, comment and follow if the above analysis was helpful.
JSE:PPH
by Source_Sailor
Pepkor (PPH): Seeking Weekly Low PricePPH has had a long weekly cycle, currently on week 48, the longest cycle since 2017. The share is seeking a weekly and yearly low price point. Compared to ther shares, it is quite a distance from the COVID lows, therefore those are more attractive to buyers. Looking at the chart we would invest as per the following guidelines: 1. We seek a swing low confirmation on the weekly, this is closing above R15.35 & use it as an entry point 2. Closing above the 10 week moving average currently at R16.14 3. Full confirmation of the weekly cycle turning bullish is price closing above the green resistance on a weekly basis 4. A yearly low confirmation comes above the purple trendline From there we would expect price to re-enter the falling wedge, then overcome the 200 week moving average (so far these are converging presenting strong resistance). Failure to re-enter rising wedge might mean trend change, however we will update this idea as time progresses.
JSE:PPHLong
by runyamhere
1
Pep broken above the 8 month downtrend Target R20.10Price has finally broken above the Downtrend since November 2022. Also the price formed a Scallop formation, which has broken up and out of. Momentum is pointing up. Other indicators confirm. 7>21 RSI>50 Target R20.10 ABOUT THE COMPANY ~ JSEPPH Pepkor Holdings is a South African-based investment holding company that operates in the retail sector. ~ Pepkor Holdings (went public as PPH in 2017) was founded in 1965 by Jan Hettema as a single clothing store in Cape Town, South Africa. ~ The name "Pep" was derived from the first initials of Jan Hettema's three sons, who were named "P"atrick, "E"dward, and "P"eter. ~ The company has a diverse portfolio of retail brands, including Pep Stores, Ackermans, Incredible Connection, JD Group, and Tekkie Town, among others. ~ Pepkor Holdings has a significant presence not only in South Africa but also in other African countries, including Namibia, Botswana, Zambia, and Lesotho. ~ In addition to its African operations, Pepkor Holdings has expanded internationally and operates stores in Poland, Australia, and the United Kingdom. ~ The company focuses on value retailing, offering affordable products across various categories such as clothing, footwear, homeware, electronics, and more. ~ Steinhoff International Holdings, a global retail conglomerate, is a major shareholder of Pepkor Holdings.
JSE:PPHLong
by Timonrosso
$JSEPPH-Pepkor: Five Waves Down, Is The Bottom Finally In?The last coverage of Pepkor was on 05.04.2023 and the share has traded as forecasted, link below. Pepkor released interim results for the six months ended 31 March 2023 on 30.05.2023. ● 4.3% growth in revenue to R43.8 billion ● 9.8% decrease in operating profit to R5.1 billion (before capital items) ● 11.7% decrease in HEPS to 80.8 cents (8.6% decrease in normalised HEPS) ● Cost growth well managed below inflation ● Market share gains in key product categories ● Avenida business in Brazil performing above expectation ● 168 new stores opened ● Continued portfolio optimisation progress This date might prove to be significant as it looks like the results day sell-off created a bottom at 1330 and completed wave (v) of ((c)) of 4. The share started to rally impulsively the next day and has now also broken out of the downtrend channel, adding further conviction that the trend is probably changing. Buy the dip is the strategy as long as 1330 holds.
JSE:PPHLong
by Loyiso_BlaqueSoros_Mpeta
1
Pepkor (PPH): Bullish Falling WedgeWe mapped the bearish case for PPH, price is now trending towards a confluence of support. The R17.85 area is where the 200 week moving average and the lower support line of the falling wedge intersect. A line of resistance can be drawn from 7 November 2022 through 30 January 2023, when price closes above this line & the 10DMA, it signal a trend change to the upside. Risk : There is a chance price will be rejected on the upper resistance line, therefore one must exercise caution with tight stop-loss.
JSE:PPHLong
by runyamhere
$JSEPPH-Pepkor: How Much Lower Can It Go?My last coverage on Pepkor was on the 12th of October 2022, link below. I forecasted a more prolonged correction and gave a stop-loss for risky longs below 1878 and the stock has not disappointed. Looking at price action, the correction looks more like a zigzag that is currently in wave ((c)) which is unfolding as an impulse and currently in wave (iv) of ((c)). The stock is also trading in a descending (falling) channel. I remain bearish in the short-term and with year end results expected in early May, I will look out for trading updates/statements to gauge sentiment.
JSE:PPH
by Loyiso_BlaqueSoros_Mpeta
TRADE UPDATE: Pepkor is still short and winning but can move upThe Pepkor Large Head and shoulders broke below the neckline and showed serious selling. The trade has been a long hold but definitely worth it. For 1, the price is moving down constantly - without any worry 2. We are making profits daily because of Short Interest income. So I'm happy to hold the short to R16.00 or so. On the SMC side (Smart Money Concepts) It is showing some upside to come. We have had a BOS (Break Of Structure) to the upside as the previous candle closed above the wick of the previous candle. This tells us there is a shift in the market where we can get some upside. However, it will be short lived to around R18.30... Then we can expect the price to turn back down and head to our target.
JSE:PPHShort
by Timonrosso