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But group revenue still rose 6.5% in the quarter, boosted by new stores and acquisitions, while it says its market share is still higher than pre-Covid-19.SA's largest retailer by store footprint Pepkor has reported a fall in like-for-like sales during the three months to end-December, amid a poor performance from overly pricey stock at Ackermans, while the hit from load shedding on the group more than tripled.
Pepkor’s group merchandise sales for the retail segments increased 7.7% for the quarter, however, rising 1.4% on a like-for-like basis at PEP. Although trading hours lost due to load shedding surged 221% year on year, the firm said its discount offering held up well in a high inflation environment, and its market share remains higher than it was before Covid-19.
Pepkor noted that credit is not a significant sales enabler for the group, and that this growth in credit sales was achieved on a prudent basis. It added that"collections and non-performing loans remain at satisfactory levels across all four credit books".Back to school The Building Company’s performance was in line with expectations, while the JD Group reported weaker trading as demand for durable products deteriorated.
But he said the good news was that even though the group had increased credit sales and loan disbursements, its collections and non-performing loans were at satisfactory levels across all its credit books.A deep dive into the big business story of the week, as well as expert analysis of markets and trends.
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