Steinhoff benefits from strong sales in Eastern Europe
Group predicts constrained consumer environments will increase demand for its discount goods in SA and Europe
29 August 2022 - 17:48
Retailer Steinhoff reported a double-digit rise in revenue for the nine months to end-June on the back of a strong performance in Eastern Europe and predicts constrained consumer environments will increase demand for its discount goods in SA and Europe.
The retail holding company, which has €10bn (R168bn) debt, owns just over 50% of SA firm Pepkor, whose brands include Ackermans, Pep, HiFi Corporation, and over 70% of Pepco that is listed on the Warsaw Stock Exchange. ..
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