Clicks reports group sales rise

CLICKS Group Ltd posted a rise in 18-week sales boosted by its health and beauty business, but warned trading conditions would remain tough, triggering a fall in its shares.

CLICKS Group Ltd posted a rise in 18-week sales boosted by its health and beauty business, but warned trading conditions would remain tough, triggering a fall in its shares.

Clicks yesterday reported a 10percent rise to R4,7billion in group sales for the 18 weeks to January 3, with retail sales increasing 13,4percent.

Its main Clicks chain stores, which provide health and beauty products primarily for women in the middle to upper income bracket, posted a 15,7percent rise in turnover.

Chief executive David Kneale said trading over the Christmas period had been tough as consumers tighened up on spending.

Retailers have struggled to keep sales and profit rising faster than inflation, with customers cutting back on spending.

"Retailers again experienced tough Christmas trading conditions, with consumers being cautious about spending their money," Kneale said.

Clicks shares fell 3,08percent to R26,16 yesterday.

The group's Musica stores had performed in line with its previous financial year. Clicks interim results for the six months to end February are expected to be released on April 22. - Reuters

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