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South African (JSE) Apparel Retail Industry Analysis

UpdatedDec 15, 2025
DataAggregated Company Financials
Companies6
  • 7D-6.9%
  • 3M-7.7%
  • 1Y-32.4%
  • YTDn/a

Over the last 7 days, the Apparel Retail industry has dropped 6.9%, driven by a pullback from Mr Price Group of 18%. Overall the industry is down 32% in 12 months. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

Has the South African Apparel Retail Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 15 Dec 2025R189.8bR221.0bR15.1b12x12.5x0.9x
Wed, 12 Nov 2025R197.1bR215.4bR12.0b12.5x16.4x0.9x
Fri, 10 Oct 2025R208.4bR212.1bR12.3b13.5x17x1x
Sun, 07 Sep 2025R201.8bR212.1bR12.2b12.7x16.5x1x
Tue, 05 Aug 2025R218.2bR211.8bR13.2b13.4x16.5x1x
Thu, 03 Jul 2025R225.6bR211.8bR13.2b14.3x17.1x1.1x
Sat, 31 May 2025R241.4bR207.1bR12.7b16.6x19x1.2x
Mon, 28 Apr 2025R227.6bR201.6bR12.4b16x18.3x1.1x
Wed, 26 Mar 2025R227.7bR201.6bR12.4b16x18.3x1.1x
Fri, 21 Feb 2025R232.3bR201.3bR12.6b16.6x18.5x1.2x
Sun, 19 Jan 2025R259.6bR201.3bR12.6b19.2x20.7x1.3x
Tue, 17 Dec 2024R280.5bR201.3bR12.6b20.8x22.3x1.4x
Thu, 14 Nov 2024R234.1bR206.5bR8.8b16.5x26.7x1.1x
Sat, 12 Oct 2024R244.4bR207.0bR8.8b16.2x27.7x1.2x
Mon, 09 Sep 2024R217.9bR207.2bR8.4b10.3x26x1.1x
Wed, 07 Aug 2024R203.0bR207.2bR8.4b9.7x24.2x1x
Fri, 05 Jul 2024R201.0bR207.2bR8.4b10.4x24x1x
Sun, 02 Jun 2024R167.4bR204.3bR7.8b8.4x21.4x0.8x
Tue, 30 Apr 2024R168.4bR200.6bR7.9b8.3x21.2x0.8x
Thu, 28 Mar 2024R176.9bR200.6bR8.0b8.6x22.2x0.9x
Sat, 24 Feb 2024R178.7bR199.7bR7.9b8.8x22.6x0.9x
Mon, 22 Jan 2024R163.7bR199.7bR7.9b7.9x20.7x0.8x
Wed, 20 Dec 2023R169.9bR199.7bR7.9b8x21.5x0.9x
Fri, 17 Nov 2023R174.5bR191.9bR15.1b10.4x11.6x0.9x
Sun, 15 Oct 2023R155.5bR189.0bR15.3b9.4x10.2x0.8x
Tue, 12 Sep 2023R149.8bR188.9bR15.3b9.2x9.8x0.8x
Thu, 10 Aug 2023R160.3bR188.1bR15.2b9.5x10.6x0.9x
Sat, 08 Jul 2023R149.1bR188.1bR15.2b8.3x9.8x0.8x
Mon, 05 Jun 2023R133.0bR180.2bR15.9b7x8.4x0.7x
Wed, 03 May 2023R149.7bR178.4bR16.3b7.6x9.2x0.8x
Fri, 31 Mar 2023R150.9bR178.2bR16.2b7.8x9.3x0.8x
Sun, 26 Feb 2023R165.4bR178.2bR16.2b8.5x10.2x0.9x
Tue, 24 Jan 2023R179.8bR177.0bR16.1b9.3x11.2x1x
Thu, 22 Dec 2022R171.1bR177.0bR16.1b8.3x10.6x1x
Price to Earnings Ratio

10.6x


Total Market Cap: R171.1bTotal Earnings: R16.1bTotal Revenue: R177.0bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Apparel Retail Industry Price to Earnings3Y Average 17.3x202320242025
Current Industry PE
  • Investors are pessimistic on the South African Apparel Retail industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 12.5x which is lower than its 3-year average PE of 17.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.98x.
Past Earnings Growth
  • The earnings for companies in the Apparel Retail industry have declined 2.1% per year over the last three years.
  • Meanwhile revenues for these companies have grown 7.7% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does South African Apparel Retail compare with similar industries?

ZA Market1.94%
Consumer Discretionary2.77%
Specialty Stores-4.82%
Apparel Retail-6.87%
Home Furnishing Retail3.71%
Automotive Retail0.45%
Home Improvement Retail-0.17%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TRU Truworths InternationalR56.002.7%
+R548.0m		-48.1%PE7.5x
TFG Foschini GroupR83.001.2%
+R323.8m		-52.0%PE9.2x

Latest News

MRP
R181.34
Mr Price Group
7D
-14.5%
1Y
-38.7%

MRP: Dividend Momentum And Margin Recovery Will Drive Share Price Upside

Analysts have raised their price target on Mr Price Group to ZAR 257, a modest uplift that reflects slightly improved margin expectations and valuation multiples despite a higher assumed discount rate. Analyst Commentary Recent research commentary on Mr Price Group has turned incrementally more constructive following the upgrade to Buy, with the higher target price framed as a function of both improving operational execution and a still-reasonable valuation backdrop.
TRU
R56.00
Truworths International
7D
2.7%
1Y
-48.1%

TRU: Stable Margins And Multiples Will Support Further Upside Potential

Analysts have maintained their price target for Truworths International at approximately R64.95 per share, citing a stable outlook supported by unchanged long term growth and profitability assumptions, despite a slightly higher required return and marginally richer forecast valuation multiples. Valuation Changes Fair Value Estimate: Unchanged at approximately ZAR 64.95 per share.
TFG
R83.00
Foschini Group
7D
1.2%
1Y
-52.0%

TFG: Digital Focus Will Support Long-Term Stability Despite Higher Perceived Risk

Narrative Update on Foschini Group Analysts have reduced their price target on Foschini Group to ZAR 93, reflecting a more cautious stance on the shares as updated discount rate assumptions point to slightly higher perceived risk in the company’s future cash flows. Analyst Commentary Analysts are adopting a more balanced stance on Foschini Group, with the latest move being a downgrade to Hold alongside the ZAR 93 price target.
PPH
R26.35
Pepkor Holdings
7D
-3.1%
1Y
-9.5%

PPH: Upgraded Buy Rating And Cost Controls Will Drive Stronger Momentum

The analyst price target for Pepkor Holdings has been revised down from R32.76 to R31.74. Analysts cite changes in profit margin assumptions and recent research highlighting improved sentiment, which is reflected in a Buy rating upgrade.