Excluding new stores, its flagship chains Pep and Ackermans grew
sales just 1.9% in the December quarter from the matching three months
in 2016.
Star said the flat revenue growth was due to deflation caused by a stronger rand making imports cheaper.
Acquisitions,
including Building Supply Group (BSG), helped its overall revenue grow
15.5% to R18.4bn during the December quarter. Excluding BSG and new
stores, the quarter’s revenue grew 8.5%, Star said in the sales update,
which did not provide rand values for its different divisions, only
percentage changes.
Tekkie Town and other chains in its adult apparel division were Star’s best performers, growing sales 19.9%.
Its
furniture, consumer electronics and appliances brands — which include
HiFi Corporation and Incredible Connection — grew sales 12.1%.
Its
hardware stores — which include Timbercity and The Tile House — grew
sales 5.1%. However, excluding BSG, its hardware stores suffered a 3.4%
decline in sales.
Businessdaylive
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