| Yesterday was one of the busiest days I've ever seen on the JSE. SENS worked overtime and so did anyone involved in the markets, including yours truly! Here are five nuggets from yesterday's announcements: Pick n Pay Clothing grew sales by 17.1% in the 18 weeks ended 3rd July, a really strong result by a business that is resonating with customers and winning market share.Woolworths is managing to grow sales in its clothing businesses despite a decrease in trading space. In complete contrast to the trend in recent years, the food business is struggling to maintain its margins and appears to be losing market share to competitors. Even affluent customers are being forced to look for value and the likes of Checkers are rising up to meet that need.Shoprite achieved sales growth of 11.9% for the 52 weeks ended 3rd July, with no effort made to even ad just the growth for the impact of the riots. When you're growing sales by double digits at group level, you don't need to mess around with "comparable revenue" and all the other tricks.Truworths is finally seeing some joy in its UK-based business Office, with sales up by 14.2% in GBP terms for the 53 weeks ended 3rd July 2022 (this percentage is on a comparable 52-week basis).Cashbuild expects Headline Earnings Per Share (HEPS) to be at least 30% lower for the year ended 26th June. Ouch.In addition to these great talking points to improve your conversations around the coffee machine today, Ghost Bites is absolutely packed with the full details of these retail announcements and many more. The updates include a rights offer by Ascendis, an acquisition of a bakery by RCL Foods, a disposal of a property by Spear REIT, earnings updates from several mining houses ( Merafe / Kumba / Alphamin) and a trading statement from Curro. GET YOUR GHOST BITES>>> Looking abroad, I asked Ghost Grad Jordan Theron to take a look at US banking results and pick one to write about. He chose Citigroup, which I found interesting as this is one of the "off the radar" contenders vs. the more glamorous names that play in the investment banking space. This year, Citigroup has outperformed those Wall Street powerhouses, though all the banks have taken serious pain in their share prices as the US economic picture deteriorates and fee revenue drops across the board. LEARN ABOUT CITIGROUP>>> Moving beyond equities, the team at TreasuryONE notes that the dollar edged higher yesterday ahead of the all-important FOMC announcement, which could be due to the market expecting the Fed to be more hawkish than initially thought. This may lead to more volatility this evening if the Fed goes against market expectations. Despite the rally in the US dollar, the rand traded in a 20-cent range for the day. Other useful stuff: Watch my live TV interview with Nastassia Arendse of SABC News, in which we discussed stocks that I wouldn't want to hold in a recession and where I'm seeing value emerge from the chaos.Listen to Episode 2 of Ghost Stories with Justin Clarke, the founder of Private Property and now Operational Director at OrbVest - we talked about his journey as a founder and his current role in bringing medical real estate investment opportunities to South African investors.Watch the PBT Group management team give a presentation on Unlock the Stock and engage in a great Q&A session with investors who attended the live webinar.Value your business with bizval before the end of July and 50% of the fee will be donated to Gugulethu Chess College to celebrate Mandela Day.Listen to Episode 85 of Magic Markets where Mohammed Nalla and I discussed concepts like US banking regulators and the power of direct-to-consumer strategies by US retailers.You would've noticed that we tried a new format in Ghost Mail today. We are always trying to improve the experience for our readers. Let us know what you think! |
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| | | Tuesday was a frenzy of announcements, with major earnings updates from several retailers. We also saw trading updates from several mining houses. This was one of the busiest days I've seen on the JSE! |
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| Ghost Grad Jordan Theron chose Citigroup as being an interesting play among the US banks. After a busy reporting season with the threat of recession looming, how does it stack up against other banks? |
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| | | I joined Nastassia Arendse on SABC News to discuss stocks that I wouldn't want to own in a recession, where I'm seeing some value in the market and how US banking regulators are sucking liquidity out of the system |
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| PBT Group is a local technology company on the move, with a share price that is 4x higher since the start of 2020! Learn about the company by watching the recording of Unlock the Stock. |
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| | | As the founders of bizval, we are celebrating Mandela Day by inviting you to value your business between 18th and 31st July. Use coupon code 46664 on checkout and we will donate 50% of the fee to Gugulethu Chess College. |
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| | | It's just the two of us on this one, so we took the opportunity to discuss a range of topics on the US market like banking regulations, direct-to-consumer strategies and key focus areas for latest earnings. |
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| | | Justin Clarke founded Private Property and helped steer the business through two financial crises and an investment by famous firm Tiger Global Management. He is now Ops Director at OrbVest, giving South African investors access to US medical real estate |
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