Welcome to Ghost Wrap, your regular update on the most interesting company news in the South African market. In this episode of Ghost Wrap, I focused on the recent updates from four clothing retail groups: 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.  The Ghost Wrap podcast is proudly brought to you by Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Mazars website for more information.