Edcon Group is expected to report higher sales for its CNA stores for the second quarter, driven primarily by a jump in sales of digital merchandise.<\/p>\n
In a trading update issued on Thursday (24 October), Edcon reported that it expects its group sales for the 13 week period ended 28 September 2013 (2Q14) to be between R5.95 billion and R6.05 billion, up between 4.7% and 6.4% from the same period in 2012 (R5.68 billion).<\/p>\n
The increase is primarily due to a healthy trading performance from the discount division as well as a more positive trading performance in the Edgars division, the group said – this, despite the “temporary disruptions caused by the refurbishment and other transformation initiatives ongoing in that division”.<\/p>\n
The group’s CNA retail stores – which sell electronics, mobile devices, media and technology – are expected to see a boost in sales between R450 million and R460 million for the quarter, up 1.6% to 3.8% compared to R443 million for the year before.<\/p>\n
The boost is primarily due to the continued sales of digital merchandise, the group said.<\/p>\n
Edcon hampered by IT costs<\/a><\/strong><\/p>\n