Company Data
| Last traded |
R46.68 |
| Change |
R0.28 |
| % Change |
0.60% |
| Cumulative volume |
706,285 |
| Market cap |
R12.89bn |
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May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - Clicks Group [JSE:CLS] said Monday that it increased retail sales by 13.4% for the 18 week period to 3 January 2010 - due to the continued strong trading results from the Clicks chain which grew turnover by 15.7%, driven by the growth in the health and beauty merchandise categories.
"This again underlines the defensive qualities of the business and the benefits of a value offer in a tight consumer economy," it said.
Group chief executive David Kneale said: "Retailers again experienced tough Christmas trading conditions, with consumers being cautious about spending their money. Trading patterns over this period were also impacted by the shorter school holidays, with consumers tending to defer their purchases until the last minute.
"Against this background we are pleased with the trading results, which are in line with our expectations."
Musica performed in line with the trend of the previous financial year, with CD sales stable and Musica continued to gain market share. The Body Shop performed well considering the current trading environment, Clicks said.
UPD's wholesale sales increased by 15.5% for the period. The reported increase of 8.8% is lower as the turnover for the comparative period included sales to third party distribution clients.
These distribution contracts have been re-negotiated so that UPD retains the income but no longer carries the debtors' book, providing a cash flow benefit to the business. The results for Clicks Direct Medicines have been consolidated into UPD.
Looking ahead, the group said while retail trading conditions are expected to remain unchanged in the short term, management believes selling price inflation has peaked and will fall steadily over the remainder of the group's financial year.
Inventory has been tightly managed and stock levels are well under control. The group remains confident of delivering on its strategic objectives and financial targets outlined to shareholders in the 2009 annual report.
Results for the six months to February 28 2010 will be released on or about April 22 2010.
- I-Net Bridge