Edcon reports a loss

Comment on this story
Edcon Independent Newspapers Photo: Leon Nicholas.

Retailer Edcon posted a loss of R1.012 billion from continuing operations in the 26 weeks ended September 2012‚ from a R1.546 billion loss a year ago.

Total revenue in the period increased to R12.062 billion‚ from R11.772 billion a year earlier.

At the same time‚ the loss from continuing operations in the 13 weeks ended September amounted to R721 million‚ compared with a R1.277 billion loss in the same period a year ago.

Retail sales increased by R131 million‚ or 2.4%‚ from R5.400 billion in the second quarter 2012 to R5.531 billion in the second quarter 2013‚ with same store sales increasing by 0.8%.

For year to date 2013 retail sales increased by 2.1%‚ from R11.216 billion in year to date 2012 to R11.453 billion‚ with like-for-like sales increasing by 1.0%.

Credit sales for the last 12 months to the end of the second quarter 2013 increased from 49.9%

in the prior comparable period to 51.4% of total retail sales. - I-Net Bridge

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines