Clicks growth still gets pulses racing
First-half results will please investors, and the retailer expects more of the same to follow
The rosy rating investors prescribe for Clicks might well be questioned by the more cynical market watchers. But the health, home and beauty retailer itself seems optimistic, with plans to spend more than R1.3bn on growth initiatives this financial year.
The group’s heady historic earnings multiple of 25 and forward multiple of 23 promise pulse-racing growth for the foreseeable future. In the latest interim period to end-February, Clicks delivered another set of encouraging numbers. But the outlook for consumer spending remains dour overall, and the looming elections signal caution and circumspection...
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