Strong sales lift Lewis earnings
Nov 22nd 2011, 07:51
Johannesburg - Furniture retailer Lewis Group [JSE:LEW] reported a 14% rise in first-half profit on Monday, boosted by higher sales which continue to show gradual growth.
Lewis, whose nearly 600 stores target the lower end of the market, said headline earnings per share totalled 378.7 cents in six months to end-September compared with 332.5c a year earlier.
Sales rose 6.7% to R2.3bn.
Lewis said sales and collections continue to show gradual improvement.
"While customers' disposable income is coming under renewed pressure from higher transport, electricity and other utility costs, the response to the launch of new and exclusive merchandise ranges during the latter part of October has been encouraging," it said.
The company declared an interim dividend of 172c per share, representing an increase of 10.3% from last year.
Young consumers now drive Kenya’s economic growth
10/05/2013 - 10:09
A new report shows consumers are taking charge of Africa’s economic growth, with an increasing number of urban Africans spending a large share of their disposable income on groceries and clothing.
JD Group: Consumer spend to stay weak
25/02/2013 - 08:24
Johannesburg - JD Group, a South African furniture retailer and financial services provider, said high unemployment and an oversupply of unsecured lending is causing consumers to spend less on durable goods.
US: Deloitte Consumer Spending Index retreats
14/12/2012 - 08:54
New York -- After nearly a year of steady gains, the Deloitte Consumer Spending Index (Index) fell in November due to a slowdown in the rise of new home prices and an accelerating decline in real wages. The Index tracks consumer cash flow as an indicator of future consumer spending.
Retailers to remain under pressure
13/12/2012 - 10:01
The fight for market share among food and clothing retailers would continue next year as retail sales were expected to remain flat while consumers battled with high debt and increased utility costs, retail analysts said last week.
Warning about uncertified appliances
05/12/2012 - 09:50
Cape Town - Electrical appliances which are not certified by the SA Bureau of Standards (SABS) pose a serious threat to consumers' lives, Parliament's energy portfolio committee warned on Tuesday.