People are spending less on home renovations as high inflationary environment brings increasing pressure to bear on consumers.
Cashbuild, which caters to the middle- to lower-income segments, said on Wednesday it expected headline earnings per share for the 26 weeks to 25 December 2022 to fall between 35% to 40% without giving reasons for the drop, adding their range would be between 678.2 centres and 734.8 cents. The news didn't come as much of a surprise to market analysts, who have been expecting a slide in earnings from building materials suppliers after the high base set by the Covid-19 and post-pandemic period over the last couple of years.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
The corner store non tax paying plumbing and supplies are thriving because their prices are at a 50% discount to these big retailers. Way to go! I have no sympathy for these BEE EE AA big retailers, they must fall!