Clicks shares down despite rise in group turnover

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(iStock)
(iStock)

The Clicks Group [JSE:CLS] announced on Thursday in a trading update that group turnover grew by 9.9% to R12.9bn in the 20 weeks to January 12, almost twice the percentage increase of the previous comparable period.

Retail health and beauty sales, a segment that includes Clicks and franchise brands of The Body Shop, GNC and Claire’s, increased by 9.0%. (8.6% in 2019)

He group's share price, which in the past six months has increased from just under R20 a share to over R26 on Wednesday, declined on Thursday morning. At 10:52, Clicks shares were trading at R256.70 a share, down 3.2%.

“Our wide range of gifting and value offering, supported by the convenience of the Clicks chain’s extensive retail and pharmacy footprint, ensured that we maintained our robust sales momentum of recent years and sustained volume growth," said chief executive officer Vikesh Ramsunder in a statement.

“This was achieved despite the increasing pressures on consumer disposable income, negative sentiment and the serious impact of electricity load shedding on retail trading hours and shoppers in general over the past two months,” he said.

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