Mr Price Sheds R6bn After Announcing R10 billion Europe Gamble

Mr Price shares slumped about 13 percent today, wiping R6 billion from its value after the retailer unveiled a R10 billion deal to buy German clothing chain NKD. The move would add more than 2 000 European stores to its footprint.

Investors reacted sharply to the scale of the expansion, warning that sluggish European growth and execution risks could weigh on returns even as the group targets a larger global presence.