The South African DIY store group Cashbuild has completed financial year 2020/2021 (ending 27 June 2021) with an increase in sales of 25 per cent compared to the previous year. Sales totalled ZAR 12.616 bn (EUR 729 bn). Sales in the 298 stores, which were already operating before July 2019, rose by 23 per cent.
During the financial year 2020/2021, Cashbuild opened ten stores (nine Cashbuild, one P&L Hardware), refurbished 29 stores (28 Cashbuild, one P&L Hardware) and relocated five stores (three Cashbuild, two P&L Hardware). Furthermore, two Cashbuild and seven P&L Hardware stores were closed at the expiration of their lease agreements. Cashbuild announced to continue its store expansion, relocation and refurbishment strategy in a controlled manner considering Covid-19 pandemic uncertainties. At mid-year, Cashbuild was operating 319 stores including one DIY store and 55 P&L Hardware stores. In addition to South Africa, the group is active in Namibia, Swaziland, Lesotho, Botswana, Malawi and Zambia.
The company also reported on the impact of the violent protests and looting during the second week of July 2021. A total number of 36 stores (32 Cashbuild and four P&L Hardware stores) were damaged and looted and were unable to trade.
%d bloggers like this: