EDGARS Stores (Edgars) says its business recovery is premised on improved access to foreign currency through domestic sales to cover import requirements, a stable exchange rate and lower inflation.
This comes as Zimbabwe has for some time battled with exchange rate disparities and a surge in inflation, which has negatively impacted business operations.
“On the currency front, the environment has remained turbid, marked by the sharp depreciation of the local currency. Some measure of macroeconomic instability has been noticed with an increase in the cost of basic commodities.
Edgars reported revenue of $35,9 billion during the 52 weeks that ended January 8, 2023, 51,7 percent up from $23,7 billion achieved in 2022.
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