Steinhoff maintains good sales momentum


Steinhoff Group offices in Wynberg, north east of Johannesburg.

JOHANNESBURG – Steinhoff says it maintained good sales momentum despite a challenging consumer environment.

The strengthening of the rand against the Euro led to a 26 percent improvement in its Euro-reported results.

The group’s South African retailers contributed almost R62-billion in revenue in the African region.

READ: Steinhoff-Shoprite merger talks collapse

Overall sales for the group, which owns Incredible Connection and Pep stores, was up by 48 percent for the three-quarters ended in June.

The global retail giant expects the UK furniture-retail market to remain challenging in the months ahead.

It also expects European and African general-merchandise segments to maintain their current growth trajectory.

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