Shoppers walk past a Spitz shoe shop, which is part of AVI, in Sandton City, Johannesburg. AVI reported a 3.8% fall in headline earnings per share for its half-year ended December 2019. Picture: ARNOLD PRONTO
The group said, however, that the business’s diversification has helped it offset weak trade in some divisions, like fashion, with increased sales in others, such as its snack businesses. Not every business was badly affected with its snack portfolio that includes Bakers, Provita and Willards seeing increased demand. This was somewhat offset by weak growth in its Ciro and Lavazza coffee brands that it sells to restaurants, hotels and conference centres — most of which were closed to customers during the lockdown.
Sales in the clothing and footwear division were weakened because companies that retail these products were shut from March 27 until the end of April.