Clothing retailer Edcon Q1 retail sales up 15%

13 Jul '06

2 min read

Collections for the quarter exceeded budget and the quality of the debtors book continues to be sound and demonstrates a sense of responsibility from consumers. At the June 2006 billing date, as anticipated, 84 percent of the debtors" book was current and able to buy, compared with 86% in June last year.

As sales and earnings for the quarter were in line with management expectations, the Edcon Board believes that, assuming no material changes in the macroeconomic environment, the earnings guidance provided in our 2006 annual report remains appropriate for the half year to September 2006, namely that "shareowners can expect another meaningful rise in earnings, ahead of the sales growth".

Edgars Consolidated Stores Ltd (Edcon) is the leading clothing, footwear and textiles (CFT) retailing group in South Africa trading through a range of retail formats.

Edcon is South Africa's largest clothing retailer by sales. Most of company trade is apparel and footwear but we also sell cosmetics, books, stationery, home fashions and general merchandise.

Edgars Consolidated Stores

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