Press Releases & Interviews

Trading update December 2008

04 February 2009

Edcon recorded total retail sales growth of 9.7% for the quarter ended December 2008. 
Comparable store sales grew by 6.7% in the same period, with all chains making significant contributions to this growth.

In the debtors' book, net bad debts as a percentage of debtors' balances were at similar levels to those reported in September 2008.

Gross profit margins increased versus the same period in the prior year as a result of lower markdowns, but this was partially offset by continued growth in store expenses and overheads. Management anticipates growth in adjusted EBITDA for the quarter ended December 2008 to be broadly in line with sales growth.

Steve Ross, Chief Executive Officer for Edcon said "We are pleased that our Edcon stores performed as they did over the Christmas period, despite difficult trading conditions. We expect the year ahead to be more challenging and we are actively preparing for that possibility."


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