South African retailer Pepkor says it expects half-year earnings to increase by at least 20 percent.The company has also been able to reduce its debt.It comes as South African clothing retailers continue to struggle, with consumers having less disposable income.
But, Pepkor, which is majority-owned by Steinhoff, has benefited from its focus on budget-conscious consumers.The furniture, appliances and electronics division, which includes Incredible Connection and Hi-Fi Corporation has reported revenue growth of over 12-percent thanks to more people working and studying from home.
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Pepkor flags profit rise and further market share gainsThe company benefited from an increased demand for electronics as consumers worked and studied from home
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Pepkor gains share in lower-income marketRetailer benefits from increased demand for home-use electronics
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BUSINESS MAVERICK: Trading statement: Pepkor buoyed by demand for furniture and electronicsThe Steinhoff-owned retail group Pepkor has reported a strong rise in demand for furniture and electronics, but it has also grown its share of the clothing market.
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