The "lipstick index" — a theory postulated by Estee Lauder chair Leonard Lauder that cosmetic sales rise in tough economic times — will be put to the test on Friday when Clicks releases its interim results for the six months to end-February. In a sales update released after Christmas, Clicks CEO David Kneale said he expected sales to remain strong. "This will be driven by our value offer to customers and the continued expansion of the Clicks store and pharmacy footprint, underpinned by the relative resilience of the health and beauty markets in which we trade," Kneale said. Clicks did not provide earnings guidance in its sales update, but said retail sales grew 12.2% in the 20 weeks ended January 15. Total group turnover, which includes wholesaler UDP, grew 8.6%. "The Clicks chain performed well in the constrained consumer economy, showing good volume growth. Customer behaviour continues to reflect a shift to shopping later in the festive season and Clicks reported record trading da...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.