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Clicks share price falls
The share price of retailer Clicks fell as much as 5,6% last week, to levels not seen since the end of November, after it issued a trading update that analysts described as "disappointing", according to an article published on Business Day.
"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.
