Retail companies' directors either cashed in following a good run for the sector or picked up further stock, suggesting that they are adopting a rosy outlook on consumer spending. Steve Ellis, a director and chief retail officer at Mr Price, bought just over 150 000 shares on Wednesday for almost R400 000.
The purchase was made in terms of the group's staff share trust and share purchase scheme, so he picked up the stock at 266.6c a share.
This compares favourably with the JSE Securities Exchange price for the stock on Wednesday, which closed at R12.90.
In May the group reported a 48 percent rise in net profit attributable to shareholders to R289.3 million for the year to March. Turnover from continuing operations rose 13 percent to R4.5 billion. When releasing the results, the group said it had set a 2010 target of R10 billion in turnover and at least a 50 percent increase in retail space.
Truworths International directors decided to lock in some profit this week as the share price touched a high for the year of R18.66. In February the group reported a 34 percent increase in interim headline earnings to 70.5c.
Emanuel Cristaudo, of Truworths, exercised options that were granted in November 2003. He acquired 6 463 shares at a strike price of R8.52 and simultaneously sold them on the open market at R18.25 a share for R117 950. Another Truworths director, Johannes Holtzhausen, exercised options granted in November 2000.
Holtzhausen acquired 40 000 shares at a strike price of R3.66 and simultaneously sold them on the open market for R18.45 a share for R738 000.
Steinhoff's directors were also active last week. Johannes van der Merwe sold 91 266 shares at an average price of R14.31, totalling R1.3 million. Steinhoff has seen its share price surge 75 percent to R14.37 over the last year.
Revenue for the six months to December was 31 percent higher at R7.059 billion, and attributable income climbed 36 percent to R681 million. Last month the group reported it had bought a stake in UK-listed bed and furniture retailer Homestyle for up to £105 million (R1.2 billion).
Other notable dealings included the purchase by Datatec chief executive Jens Montanana of stock worth R3.6 million. This followed Montanana's recent R3.4 million acquisitions.
Grindrod, Mustek, Octodec, Capitec, Value Group, Aspen Pharmacare, Discovery Holdings, Afgri, Delta Electrical, Barloworld, Foord Compass, Purple Capital, Proper and Zaptronix shares were also traded.