CHRIS GILMOUR: Lewis defies the odds as share price soars on homebody economy
Business model of JSE-listed furniture retailer proves resilient as trading as annual profit and earnings rise
Lewis Group is the last of a dying breed. It is the last listed pure-play JSE-listed furniture retailer. Other players, including the famous Ellerines have long gone, leaving Cape Town-based Lewis to soldier on. Untrained observers might be excused for being surprised at Lewis’s good fortune in seemingly defying the odds by enjoying a big positive turnaround in its share price in the past year.
Superficially it appears counterintuitive that a furniture and appliances retailer should be doing so well in the midst of a global pandemic. But the stark reality is that it genuinely is prospering and that situation is likely to persist for as long as SA is unable to break loose of the pandemic. The work from home phenomenon has resulted in many people spending money on making their homes more beautiful and functional. It is sometimes referred to as the homebody economy. ..
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.