Holdsport still looking healthy
Speciality retailer beats the trend, offering slow, sure expansion and impressive figures
Discretionary spending on clothing and lifestyle items are usually the first to fall victim to a slowing economy, as retailers have found out in the past two years. Gym memberships and sports memberships are often casualties, as people choose to walk their dogs instead. And yet, contrary to this impression, Holdsport — which owns Sportsmans Warehouse and outdoor specialist Outdoor Warehouse — seems to be keeping its head above water. Sales rose 5.8% for the year to February, even though net profit fell 11.4% to R273.7m. But more importantly, the company is banking on things improving — planning to open three new stores this year, to take its total to 66. Sportsmans Warehouse, which accounts for more than 70% of revenue, has opened new outlets in the Mall of Africa and Menlyn Park shopping centre in Gauteng. But top-notch as operators such as Holdsport might be, some sectors just aren’t going to give you much value right now.
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