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In this episode of Ghost Wrap, I covered these important stories on the local market:

• The Foschini Group got the market excited about the sector, with strong growth in the local business and encouraging commentary on margins – but the offshore businesses have suffered.
• Mr Price also put in promising revenue growth and has a positive gross margin story to tell, with the base effect making a big difference here.
• Truworths has struggled in the local business (admittedly vs. a high base), with the UK-based business shooting the lights out – especially when translated to rands.
• Pepkor is a perfect example of why credit sales are important for local retailers, with cash sales growth being hard to come by.