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Zimbabwe clothing retailer Edgars to renovate stores
14
Mar '12
In its efforts to boost sales at its outlets, Edgars Stores Limited, a leading Zimbabwean clothing retailer, has set aside a sum of US$ 5.3 million for undertaking a facelift at its outlets across the country.

The expenditure is to be made from the company's existing cash reserves and loan capital, Edgars Chairman, Mr. Thembinkosi Sibanda, said.

The sum of US$ 5.3 million earmarked for financing capital projects this year is significantly higher than the sum of US$ 2.3 million sanctioned by the company last year.

Announcing the company's financial results for the full year till January 7, 2012, Mr. Sibanda said backed by broader profit margins and sale of brands with higher value, the company's profits grew by 120 percent to US$ 3.3 million.

Edgars said it is also focusing on exports, though there are some difficulties.

Edgars added that its production facility suffered a loss last year, and hence, the focus would be on securing funds to boost productivity.

Edgars Stores Limited offers middle and high-end customers good quality clothing items at competitive prices at its 33 countrywide stores in Zimbabwe.

Fibre2fashion News Desk - India

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