RETAIL AND WHOLESALE
Holdsport runs into heavy weather
The group, which owns Sportsmans Warehouse, battles difficult trading conditions, with sales rising only 5.8%
Holdsport’s share price closed 3% lower on Friday after the group reported difficult trading conditions in full-year results. The group, which owns Sportsmans Warehouse, said it experienced difficult trading conditions, with sales rising only 5.8% to R1.82bn. Its share price closed at R61. "Holdsport continues to face low levels of consumer confidence, weak economic growth and a sporting goods industry which is intensely competitive," CEO Kevin Hodgson said. Holdsport comprises retail divisions Sportsmans Warehouse and Outdoor Warehouse and a wholesale division that includes the First Ascent, Capestorm, Second Skins and African Nature brands. Core headline earnings excluding the effect of foreign exchange adjustments were 522.3c per share, a decrease of 2.3% from the 534.5c for the previous financial year. "In evaluating this performance shareholders should take into account that the aggregate foreign exchange adjustment during the current year was a loss of R19.5m, compared with an...
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