Dis-Chem lost R5.21 billion since no-whites letter

Daily Investor | March 3, 2023

Dis-Chem has lost R5.21 billion in value since its CEO Ivan Saltzman’s letter, which placed a moratorium on employing or promoting white people at the retailer, became public.

Saltzman revealed to investors that many regular Dis-Chem dispensary customers withdrew their scripts after the memo banning hiring white employees was leaked.

It was not all bad. The Dis-Chem CEO said an analysis of customer data revealed that it also gained black chronic medication customers.

However, the number of clients lost following the moratorium on white employees exceeded the number of clients gained.

The moratorium’s impact was revealed as part of Dis-Chem’s trading update from 1 September 2022 to 5 February 2023.

It showed a significant decrease in revenue growth which slowed to the lowest level since Dis-Chem was listed in 2016.


1 Comment on Dis-Chem lost R5.21 billion since no-whites letter

  1. Excellent!, if my people aren’t welcome to work there or to be promoted while working there then surely we’re just as unwelcome yo spend our money there. “Salzman” sounds like a good Afrikaan’s or English name…right?

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