SEKGABO MOLELEKOA: Lewis continues to put profit on the table 🔒
BL PREMIUMLewis continued its good run by reporting a solid set of interim results. Many retailers have botched acquisition deals and, in particular, offshore strategies have largely failed. However, Lewis’s acquisition of local business United Furniture Outlets two years ago has worked in its favour. With the backdrop of constrained consumer spending, the group generated double-digit growth for the six months ended September, in large part due to the investment in UFO.
Lewis’s strategy to diversify across market segments is bearing fruit. The purchase of UFO, a cash business, has enhanced the cash/credit sales mix for Lewis, thus reducing the group’s overall risk rating. UFO has broadened the customer base by catering to the higher end of the LSM spectrum, while the Lewis and Beares brands cater to the mid to lower end. Plans are afoot to increase UFO outlets to 70 from about 40 within three to four years. There is a shortage of exposure to the Western Cape.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lone tree stops German tourist's 25m plunge down front of Table MountainA German tourist who fell 25m on the front face of Table Mountain was saved by a lone tree, rescuers said on Thursday.
Read more »
SACP disappointed at SAA’s business rescue decisionThe SACP on Thursday expressed its disappointment at the decision to put SAA into business rescue.
Read more »
No great expectations from offshore investmentsCapital continues to flow offshore but yields will remain modest
Read more »
Trump campaign bans Bloomberg News reporters from eventsBloomberg editor-in-chief says the news organisation will continue to cover the Trump campaign fairly
Read more »
Domestic workers will soon be able to claim for work injuriesLabour and employment minister Thulas Nxesi has promised that the Compensation of Injuries on Duty Amendment Bill, which caters for domestic workers, will be tabled in parliament soon.
Read more »
Domestic workers will soon be able to claim for work injuriesLabour and employment minister Thulas Nxesi has promised that the Compensation of Injuries on Duty Amendment Bill, which caters for domestic workers, will be tabled in parliament soon.
Read more »