HomeChoice profits plummet as informal economy struggles
The group says its HEPS for the second half of 2020 are expected to fall between 52% and 67%
HomeChoice, a seller of linen and cookware, as well as financial services products, expects headlines earnings per share (HEPS) for the second half of 2020 to plummet, suggesting the informal economy is contracting.
The group, which started as a mail-order retailer of homeware products to mass market consumers on credit in the mid-1980s, said on Friday that its (HEPS), a measure of operating profit used in SA, is expected to be between 144c and 209c, or fall between 52% and 67% lower than the current R4.36c. ..