Clicks: what lies beneath the lipstick?
Strip out Clicks’s riot insurance payments, and profit growth for this investor favourite is way off where its shares say it should be
Load-shedding is the biggest concern for Clicks CEO Bertina Engelbrecht, but despite its impact the country’s largest pharmacy retailer has again grown earnings by double digits and continues its relentless expansion.
The group opened its 800th store in March and plans a further 45 new stores and 54 new pharmacies for this financial year. That’s pretty game in a moribund economy, but Engelbrecht and the board are banking on the resilience of core categories such as personal care, medication and baby products...