Local retailers are outperforming a bad economy
Nevertheless, last week, the market was pleasantly surprised by the results of local retailers Clicks and Pick n 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.
Clicks operates 704 stores and 545 pharmacies and increased its share of the retail pharmacy market one percentage point to 24.9percent.
Management of Clicks says it is well-positioned to extend these market share gains in the future.
Amelia Morgenrood | IOL
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