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MarketScreener Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Shoprite Holdings Limited    SHP   ZAE000012084

SHOPRITE HOLDINGS LIMITED

(SHP)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 10/27
139.4 ZAR   -1.83%
10/01WENDY LUCAS-BULL : South Africa's Absa chairwoman Lucas-Bull joins Shoprite board
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10/01SHOPRITE HOLDINGS LIMITED : Nomination
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09/30SHOPRITE HOLDINGS LIMITED : Ex-dividend day for final dividend
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TRESemmé hair ad angers South Africans still hurting from racist past

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09/14/2020 | 08:00am EDT

JOHANNESBURG, Sept 14 (Reuters) - Sitting in a hair salon as a stylist braids her natural hair, Sana Sebone recalls a time in 2013 when she worked on a construction site and was told her dreadlocks were too long and represented a hazard.

She was upset, she said, mainly because her white colleagues with long hair were not told the same as their hair was considered "normal".

Seven years on, that term is haunting her again after an advert was released by TRESemmé, a Unilever brand, describing images of African Black hair as "frizzy and dull" and "dry and damaged" while a white woman's hair was referred to as "normal".

"It really upset me," said 30-year-old Sebone, who turned to dreadlocks after tiring of straightening her natural hair to make it look "presentable" in others' eyes.

Unilever has apologised for the advert, which it admitted was "racist", while TRESemmé South Africa and Drugstore Clicks Group, on whose website the advert was posted, have also apologised.

"We are in the year 2020. How ignorant can you be to still think Black women's natural hair is ugly, is fuzzy and is all those negative words?," Sebone said at the salon in Midrand, a suburb in northern Johannesburg.

The advert caused an outcry on social media and sparked protests led by the opposition Economic Freedom Fighters in a country where unfair treatment of people based on their hair evokes painful memories of prejudice during apartheid, which ended in 1994.

In those years, a "pencil test" was used to determine someone's racial identity: A pencil was inserted into a person's hair and if it did not fall out, that person was considered not white.

"Our forefathers have fought this. Are we still fighting this? When will it end?," said 48-year-old Nomsa Nyathi as she sat under a hair steamer at the salon.

Black hair is still policed in places like schools, where Black girls with natural afros or dreadlocks are sometimes suspended for not "wearing their hair right" or are asked to straighten their hair.

"Everything about being a Black female in South Africa or even in the world screams 'You're not good enough, you don't fit in here, you're not wanted here'," said 42-year-old Ntombenhle Khathwane, founder of Black hair products brand AfroBotanics.

Khathwane herself remembers being told in high school that her dreadlocks did not align with the school's neatness policy.

Unilever has pulled all TRESemmé products from South African retail stores for 10 days. Its South African unit has moved to set up an advisory board and a diversity committee. (Reporting by Nqobile Dludla; Editing by Olivia Kumwenda-Mtambo and Hugh Lawson)


Stocks mentioned in the article
ChangeLast1st jan.
CLICKS GROUP LIMITED -4.58% 243.1 End-of-day quote.-5.26%
DIS-CHEM PHARMACIES LIMITED -0.81% 18.47 End-of-day quote.-30.30%
DOW JONES AFRICA TITANS 50 INDEX 0.32% 481.63 Delayed Quote.-10.78%
DOW JONES SOUTH AFRICA(ZAR) -0.78% 1670.99 Delayed Quote.-6.66%
PICK N PAY STORES LIMITED 0.32% 54.06 End-of-day quote.-15.39%
S&P AFRICA 40 INDEX 0.28% 158.98 Delayed Quote.-6.98%
SHOPRITE HOLDINGS LIMITED -1.83% 139.4 End-of-day quote.10.71%
UNILEVER N.V. 1.38% 51.3 Delayed Quote.-1.23%
UNILEVER PLC 0.93% 4689 Delayed Quote.6.79%
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All news about SHOPRITE HOLDINGS LIMITED
10/01WENDY LUCAS-BULL : South Africa's Absa chairwoman Lucas-Bull joins Shoprite boar..
RE
10/01SHOPRITE HOLDINGS LIMITED : Nomination
CO
09/30SHOPRITE HOLDINGS LIMITED : Ex-dividend day for final dividend
FA
09/16SHOPRITE : Checkers Sixty60 launches in two more provinces
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09/14TRESemmé hair ad angers South Africans still hurting from racist past
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09/14TRESemmé hair ad angers South Africans still hurting from racist past
RE
09/10Unilever South Africa to pull all TRESemmé products for 10 days over 'racist'..
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09/09SHOPRITE : Announces Plan to Leave Kenya
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09/03SHOPRITE HOLDINGS LIMITED : annual earnings release
08/14SHOPRITE : frontline heroines grace the pages of True Love
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Financials
Sales 2021 168 B 10 339 M 10 339 M
Net income 2021 4 216 M 260 M 260 M
Net Debt 2021 25 675 M 1 585 M 1 585 M
P/E ratio 2021 17,5x
Yield 2021 2,91%
Capitalization 77 047 M 4 779 M 4 755 M
EV / Sales 2021 0,61x
EV / Sales 2022 0,58x
Nbr of Employees 147 478
Free-Float 66,0%
Chart SHOPRITE HOLDINGS LIMITED
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Technical analysis trends SHOPRITE HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 135,20 ZAR
Last Close Price 139,40 ZAR
Spread / Highest target 24,1%
Spread / Average Target -3,01%
Spread / Lowest Target -40,5%
EPS Revisions
Managers
NameTitle
Pieter Christiaan Engelbrecht Chief Executive Officer & Executive Director
Christoffel F. Hendrik Wiese Chairman
Wendy Elizabeth Lucas-Bull Chairman-Designate
Anton de Bruyn Chief Financial Officer & Executive Director
B. Ram Harisunker Executive Director & Divisional Manager
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