Edgars sees firm demand

EDGARS Stores (Edgars)’s sales volumes have remained firm despite widespread concerns of falling demand within the economy.
In a trading update for the nine months to October 8, the clothing retailer said it sold 649 788 units during the final third of the period under review — a 28,5 percent increase from the same period last year.
“However, cumulatively for the nine months to October, the unit sales were 2,4 percent below last year due to the currency instability experienced in the second quarter, which saw customers, especially civil servants, who are 35 percent of our business, losing a significant part of their buying power.”
It comes as the central bank has had to keep a tight rein on liquidity to curb inflation.