OPINION: Local retailers are outperforming a bad economy
JOHANNESBURG – South African retailers have been battered by poor trading conditions, rising job losses and weak economic growth, which has made it difficult for companies to pass on costs to their customers.
Nevertheless, last week, the market was pleasantly surprised by the results of local retailers Clicks and Pick * Pay.
While most retailers are struggling to sort out their foreign calamities, these two are making headway in the local market.
Both improved their revenue and margins, and both are expanding their reach over the next financial year to pursue additional market share.
For Clicks, health and beauty sales rose 10.5percent in its year to end-August, amid market-share growth across all their core product categories.
Source: iol.co.za
