"It (the trading update) is weak. They did not allude in the results or any presentation that trading had deteriorated to the point indicated in the numbers. It explains the sell-off in the market. It's not a good number," Syd Vianello, a retail analyst at Nedgroup Securities, said.
Clicks, which operates health, pharmaceuticals, beauty, lifestyle and recorded music stores, posted an 8,1% increase in sales in the 18 weeks to January 1. Comparable sales were up 4,2% with a selling price inflation of 0,4%.
Read the full article by Phakamisa Ndzamela on www.businessday.co.za.
