Black Friday
The festive trade.
Black Friday opens the six weeks that make or break a South African retailer’s year. Here is how every JSE commerce share has traded through the last five seasons, against the Top 40.
Black Friday 2026: Friday 27 November
Five-season averageThe whole season.
Last October close to the last close of the year.
- Top 40, average+7.1%
- Commerce shares, average+5.4%
- Rose in at least four of five20 of 53 shares
- Beat the Top 40 in at least four of five4 of 53 shares
| Company | MoveFive-season average | Last five2021 to 2025 | Rose | Beat Top 40 |
|---|---|---|---|---|
 Choppies CHPGrocers | +45.4% | 4/5 | 2/5 | |
 Telkom TKGPayments | +15.2% | 4/5 | 3/5 | |
 City Lodge CLHGoing out | +14.0% | 5/5 | 4/5 | |
 Lighthouse Properties LTEWhere we shop | +12.3% | 5/5 | 2/5 | |
 Attacq ATTWhere we shop | +12.0% | 5/5 | 4/5 | |
 Tiger Brands TBSOn the shelf | +11.5% | 4/5 | 4/5 | |
| Premier PMROn the shelf | +10.6% | 3/3 | 1/3 | |
 MTN MTNPayments | +10.5% | 3/5 | 3/5 | |
 Richemont CFRFashion | +10.4% | 3/3 | 3/3 | |
 Super Group SPGMoving goods | +10.3% | 4/5 | 2/5 | |
 Hyprop HYPWhere we shop | +9.8% | 4/5 | 3/5 | |
 Resilient REIT RESWhere we shop | +9.8% | 5/5 | 3/5 | |
| Purple Group PPEPayments | +9.5% | 4/5 | 2/5 | |
 Spur SUREating out | +9.5% | 5/5 | 3/5 | |
 Capitec CPIPayments | +9.4% | 3/5 | 4/5 | |
 NEPI Rockcastle NRPWhere we shop | +8.8% | 4/5 | 2/5 | |
 Naspers NPNPlatforms | +8.6% | 3/5 | 2/5 | |
 Lewis LEWHome & build | +8.4% | 5/5 | 3/5 | |
 Prosus PRXPlatforms | +8.0% | 3/5 | 2/5 | |
 Southern Sun SSUGoing out | +7.6% | 5/5 | 3/5 | |
 Motus MTHOn the road | +6.6% | 4/5 | 2/5 | |
 Fairvest FTBWhere we shop | +6.0% | 3/4 | 2/4 | |
 Famous Brands FBREating out | +5.7% | 4/5 | 2/5 | |
 Dis-Chem DCPHealth & beauty | +5.0% | 3/5 | 3/5 | |
 Cashbuild CSBHome & build | +4.6% | 2/5 | 1/5 | |
 AVI AVIOn the shelf | +4.5% | 3/5 | 3/5 | |
 Pepkor PPHFashion | +4.3% | 3/5 | 2/5 | |
 Vukile VKEWhere we shop | +4.2% | 3/5 | 2/5 | |
 Bidcorp BIDMoving goods | +4.1% | 3/5 | 2/5 | |
 Oceana OCEOn the shelf | +4.1% | 3/5 | 3/5 | |
 AB InBev ANHOn the shelf | +3.8% | 4/5 | 1/5 | |
 Astral Foods ARLOn the shelf | +3.7% | 3/5 | 2/5 | |
 Sea Harvest SHGOn the shelf | +3.5% | 4/5 | 2/5 | |
 Exemplar REITail EXPWhere we shop | +3.5% | 2/5 | 2/5 | |
 Shoprite SHPGrocers | +3.4% | 2/5 | 2/5 | |
 British American Tobacco BTIOn the shelf | +3.4% | 3/5 | 2/5 | |
 Libstar LBROn the shelf | +3.4% | 2/5 | 2/5 | |
 Karooooo KROMoving goods | +2.8% | 3/5 | 1/5 | |
 Fortress FFBWhere we shop | +2.3% | 4/5 | 1/5 | |
 Clicks CLSHealth & beauty | +2.0% | 2/5 | 3/5 | |
 Woolworths WHLFashion | +1.7% | 3/5 | 1/5 | |
 Mr Price MRPFashion | +1.2% | 2/5 | 2/5 | |
 RCL Foods RCLOn the shelf | +0.8% | 4/5 | 1/5 | |
 Quantum Foods QFHOn the shelf | +0.6% | 3/5 | 0/5 | |
 Truworths TRUFashion | +0.6% | 2/5 | 1/5 | |
 Lesaka LSKPayments | +0.4% | 3/5 | 2/5 | |
 Combined Motor Holdings CMHOn the road | -0.3% | 2/5 | 1/5 | |
 Sun International SUIGoing out | -0.5% | 2/5 | 0/5 | |
 Italtile ITEHome & build | -0.6% | 1/5 | 1/5 | |
 Blu Label BLUPayments | -0.7% | 2/5 | 2/5 | |
 Vodacom VODPayments | -1.1% | 2/5 | 0/5 | |
 TFG TFGFashion | -1.2% | 2/5 | 1/5 | |
 Pick n Pay PIKGrocers | -2.8% | 1/5 | 1/5 | |
 Tsogo Sun TSGGoing out | -4.1% | 2/5 | 0/5 | |
 Boxer BOXGrocers | -6.2% | 0/1 | 0/1 | |
 SPAR SPPGrocers | -6.7% | 2/5 | 1/5 |
Daily closing prices from Yahoo Finance, five years. Moves are price only, before dividends.
Whole seasonBy segment
The average move of each part of commerce in each season, every share counted equally.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Grocers | -1.1% | -6.2% | +2.5% | +12.7% | +31.7% |
| On the shelf | -0.5% | +2.8% | +6.1% | +4.2% | +8.3% |
| Eating out | +11.2% | +9.0% | +9.7% | +5.7% | +2.2% |
| Going out | -4.0% | +8.1% | +10.1% | -1.8% | +9.0% |
| Fashion | -4.1% | -4.7% | +10.1% | +8.2% | -0.2% |
| Platforms | -3.2% | +48.4% | +7.1% | +1.2% | -12.0% |
| Health & beauty | +12.0% | -13.9% | +22.2% | -0.5% | -2.3% |
| Home & build | +1.1% | -0.4% | +5.5% | +13.3% | +1.1% |
| On the road | +3.0% | -4.7% | +6.5% | +1.2% | +9.5% |
| Where we shop | +7.7% | +2.5% | +16.7% | +3.9% | +7.6% |
| Moving goods | +2.4% | +2.2% | +1.2% | +19.0% | +3.9% |
| Payments | +12.2% | -2.1% | +12.9% | +5.7% | +2.2% |
Black FridayWhat to watch
The numbers that tell you how the season is going before the retailers report it.
QuestionsGood to know.
Friday 27 November 2026, the day after the American Thanksgiving. Many South African retailers now run deals for the whole of November, and Cyber Monday follows on 30 November.
Not reliably. Some shares have risen in most of the last five seasons and others have fallen in most of them, and the Top 40 itself has had good and bad seasons. The table shows each share’s record so you can see which way it has gone, and how often.
From daily closing prices. The run-up is the last close in October to the close on Black Friday; the festive move is Black Friday to the last close of the year; the whole season is October’s last close to the year’s. Moves are share price only, without dividends.
Most listed retailers make a large part of their year’s sales and profit between Black Friday and New Year, so trading in these weeks drives the results and trading updates they publish early in the new year.
Artive Capital doesn’t raise outside capital; it only trades and invests Artive’s own, and has no clients. This is a screen we use to decide where to look, not a recommendation to buy or sell anything. Prices are delayed and third-party data can be wrong; check with your broker before you act.
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