Company Data
| Last traded |
R74.00 |
| Change |
R-0.03 |
| % Change |
-0.04% |
| Cumulative volume |
184,376 |
| Market cap |
R7.26bn |
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Johannesburg - Household furniture and appliances retailer
Lewis Group [JSE:LEW] on Friday said merchandise sales grew by 9% in the four months to June in a challenging trading environment.
Lewis CEO Johan Enslin also reported the retailer's debtors' book reflected stabilising debtor costs and improving customer payment performance.
Said Enslin: "The rate of increase in debtor costs slowed to 21% (R18m) for the first quarter to 30 June 2010 compared to an increase of 38% (R24m) reported in the first quarter of the previous financial year."
Satisfactory paid customers comprised 72.1% of debtors at the end of the first quarter compared to 70.5% in the same period last year.
Lewis owns a portfolio of three furniture and appliances brands (Lewis, Best Home & Electric and My Home, targeting lower to middle income earners (LSM 4 to 8).
- Fin24.com