Clicks warns of tough times due to lockdown
JOHANNESBURG – South African drugstore chain Clicks suspended its interim dividend and warned trading would be tough for the rest of its financial year due to the coronavirus crisis, despite a better-than-expected rise in first-half earnings.
Clicks said the economic impact of the pandemic could be compounded by power cuts when South African businesses re-open, which remains a risk to retail sales, particularly in the higher-demand winter season.
President Cyril Ramaphosa imposed a lockdown on March 26, banning anyone but essential workers from leaving home except to buy food or medicine, when South Africa had just 400 cases.
Source: iol.co.za