Pharmacy group Dis-Chem said on Wednesday promotional campaigns and a wide product range helped it fend off the effects of load shedding in the 22 weeks to February 2, when it grew its market share.
Retail revenue rose 9.2% to R9.4bn during the period, with the group saying it had improved trade terms with its suppliers, and had seen more efficient inventory levels. Group revenue rose 10% to R10.3bn, the company said.
“The weak macroeconomic environment in SA is unsupportive of business as constrained consumers continued to trade down, resulting in smaller basket sizes,” said CEO Ivan Saltzman.
“Our pharmacy focus, everyday low price strategy coupled with focussed promotional campaigns and availability of choice for our customers enable us to drive strong footfall into our stores, this despite the negative impact of load-shedding on consumer shopping behaviour,” Saltzman said.
In morning trade on Wednesday, Dis-Chem’s share price was down 1.75% to R23.58, having fallen 4.46% over the past 12 months.