A segment of commerce

JSE fashion and clothing retail shares.

Wants, not needs: clothing, footwear and homeware, sold for cash and on credit to every income group.

FashionThe companies

SharePriceToday1MYTD1YMarket valueP/EYieldNext results
Mr Price MRPR163.95+0.59%-0.2%-6.9%-20.0%R42.1bn11.6x7.3%19 Nov 2026
TFG TFGR48.58+0.16%-5.6%-42.6%-55.8%R15.3bn11.9x5.8%06 Nov 2026
Pepkor PPHR17.91+0.84%-9.3%-32.4%-26.5%R66.2bn11.1x3.0%24 Nov 2026
Woolworths WHLR37.20+1.86%-14.3%-34.0%-26.5%R32.7bn14.3x5.5%–
Truworths TRUR43.61+0.02%-4.8%-23.5%-20.4%R16.2bn6.1x10.9%–
Richemont CFRR3,499.51+0.31%-9.2%-3.5%+7.1%R2.06trn32.0x1.9%13 Nov 2026

One yearThe segment against the market

Segment index vs the Artive Commerce Index and JSE Top 40, rebased to 100. Built from delayed JSE prices via Yahoo Finance. Not advice.

The economyWhat moves it

How we read this segment’s exposure to the South African economy, and which way each is moving now.

  • Interest rates

    Weighs on this segment when it rises (customers borrow to buy, or value rides on rates).

    Now: Rates rising (7.25%)

  • Consumer confidence

    Helps this segment when it rises (discretionary spend follows the mood).

    Now: Shoppers more confident (-13 (Q3))

  • Retail sales

    Helps this segment when it rises (sells straight into household spending).

    Now: Retail sales picking up (+3.4% (Jul))

  • The rand

    Helps this segment when it rises (imports stock or inputs priced in dollars).

    Now: Rand steady (R16.38/$)

  • Credit growth

    Helps this segment when it rises (sells on credit or to borrowers).

    Now: Lending slowing (7.5% (Aug))

FashionComing up

Fri, 06 Nov

  1. ResultsTFG (TFG) reports

Fri, 13 Nov

  1. ResultsRichemont (CFR) reports

Thu, 19 Nov

  1. ResultsMr Price (MRP) reports (expected)

Tue, 24 Nov

  1. ResultsPepkor (PPH) reports (expected)

In the news

  1. BusinessTech

    Big changes for Woolworths, Pick n Pay, and SPAR in South Africa

  2. BusinessTech

    Pick n Pay announces Woolworths exec as next CEO

The rest of commerce

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.

We don’t take outside money, but we always like talking markets and commerce.

For media, research and partnership questions, send us an email.

Say hello