Lewis news

Affordabilty Regulations and Economy Impact Lewis Group

November 16, 2016

LEWIS GROUP MEDIA RELEASE   9 November 2016 AFFORDABILITY REGULATIONS AND ECONOMY IMPACT LEWIS GROUP Cape Town – Slowing economic conditions and the impact of the affordability assessment regulations severely impacted Lewis Group’s performance for the six months to September 2016, contributing to headline earnings for the half year declining from R287 million to R173 Read more

Lewis Group completes acquisition of 57 stores in Africa

March 23, 2016

Cape Town – Lewis Group has completed the acquisition of a portfolio of 57 Ellerines and Beares stores in four southern African countries, expanding its store presence outside of South Africa to 120. This follows regulatory and competition approvals in each of these countries for the R250 million acquisition announced in November 2015. The stores Read more

Lewis Group granted approval to acquire Swaziland stores

March 2, 2016

Cape Town – Lewis Group has received the go ahead from the Swaziland competition authorities to acquire six Ellerines and Beares stores in the country. This follows the recent approvals for the purchase of 30 Ellerines and Beares stores in Botswana and Lesotho. The majority of the Ellerines and Beares outlets acquired in the neighbouring Read more

Lewis Group gets go ahead for acquisition of 30 stores in Botswana and Lesotho

February 15, 2016

Cape Town – Lewis Group has received regulatory and competition approvals for the acquisition of 20 Ellerines and Beares stores in Botswana and 10 in Lesotho. This follows the announcement in November 2015 of the proposed acquisition of 62 Ellerines and Beares stores in southern Africa for approximately R250 million. This effectively doubled the group’s Read more

Lewis Group acquires 62 Ellerines and Beares stores in Africa

November 9, 2015

Cape Town – Lewis Group today announced the acquisition of 62 Ellerines and Beares stores in southern Africa for a purchase price of approximately R250 million. The stores are located in Botswana (25 stores), Namibia (21), Lesotho (10) and Swaziland (6), and will increase the group’s total store footprint to 786. Chief executive officer, Johan Read more

Lewis Group posts strong second half performance

May 27, 2015

Cape Town – Multi-brand furniture retailer Lewis Group today reported a strong second half performance for the year to March 2015 as the group gained market share in the changing competitive environment. Merchandise sales for the second half increased by 18%, compared to a decline of 3.5% for the first six months, driven by the Read more

Lewis Group maintains dividend in challenging trading environment

November 10, 2014

Lewis Group, which last week announced the planned acquisition of Beares, continued to be impacted by the slowdown in the furniture retail sector in the six months to September 2014 with headline earnings declining 11.3%. Despite the lower earnings, the interim dividend has been maintained at 215 cents per share, as the board remain confident in Read more

Lewis Group delivers a competitive performance in challenging environment

May 28, 2014

Chief executive officer, Johan Enslin, said consumer spending remained under pressure from rising costs and high levels of indebtedness. “Our customers in the middle to lower income market have also been impacted by widespread labour unrest, retrenchments and high levels of unemployment. “The performance of our debtors’ book reflects the worsening credit climate and the Read more

Lewis Group launches R2 billion bond programme

October 29, 2013

Cape Town – Listed furniture retailer, Lewis Group, has successfully raised R500 million in its debut issue on the debt capital market. This is the first issue under Lewis Group’s R2 billion domestic medium-term note (DMTN) programme to be listed on the JSE with effect from 31 October 2013. The funds were raised across a Read more

Lewis’s A rating defies a bad sector – Business Report

October 7, 2013

Johannesburg – Furniture retailer Lewis Group was awarded a good credit rating on Friday by Global Credit Ratings for its consistent performance. Lewis received the first-time rating of A for outperforming the ailing local furniture industry, which has been hit by bad debt and slow demand. The “A” rating is a high score for a Read more

A good company in bad company – Moneyweb

May 23, 2013

An old fashioned business model that is based on personal contact rather than call centres and which empowers store managers to make ‘executive’ decisions appears to be paying dividends for credit retailer Lewis Group. Despite the tumultuous times the company posted solid results for the year to March. Revenue rose 6.8% to R5.1bn and the Read more

Lewis shares rally on rise in headline earnings – Business Day

Furniture and appliances retailer Lewis Group reported a 13.6% rise in headline earnings per share for the year ended March, “which speaks to the fact that our business model is a resilient one”, according to CE Johan Enslin. Mr Enslin said that amid challenging trading conditions “this is a solid set of results”. A final Read more

Lewis Group earnings up 14% as debtor costs well managed

May 22, 2013

Lewis Group increased headline earnings by 14% to R890 million in the year to March 2013 despite trading conditions in the furniture retail sector becoming increasingly challenging. A final dividend of 302 cents per share has been declared, bringing the total dividend to 514 cents, an increase of 16.3%. Chief executive, Johan Enslin, said the Read more

Lewis prepares for festive season blitz – Business Day

November 13, 2012

In the competitive furniture sector where consumers’ disposable income is under pressure, Lewis Group is in a position to fight for all available sales this festive season, its CE Johan Enslin said on Monday. “It will be tough, but as a true-blue retailer, we always prepare well for Christmas. We are carrying more stock than Read more

Lewis Group earnings up 11% as sales growth improves

November 12, 2012

Lewis Group today reported an 11% increase in headline earnings to R372 million for the six months ended September 2012 as trading conditions in the furniture retail sector remained challenging. The interim dividend has been increased by 23.3% to 212 cents per share. Chief executive, Johan Enslin, said merchandise sales have shown an improving growth Read more

Lewis reports 5% rise in sales – Business Day

August 20, 2012

Furniture retailer Lewis Group said on Friday that sales for the four months to the end of July increased by 5% from the same period a year ago. “Trading in April was challenging mainly as a result of the Easter holiday period. However, sales improved steadily from May onwards, with sales for June and July Read more

Sales on the rise after Easter slump – Business Report

Sales of Lewis improved steadily from May after a challenging trading environment in April as a result of the Easter holiday period. Speaking at its annual general meeting on Friday, Lewis chief executive Johan Enslin said sales in June and July increased by 6 percent. “Sales for the four months ended July rose by 5 Read more

Lewis Group earnings up 13 on strong growth in margins

May 23, 2012

LEWIS GROUP EARNINGS UP 13 ON STRONG GROWTH IN MARGINS Cape Town – Furniture retailer Lewis Group today reported an increase of 13 in headline earnings per share to 882.5 cents for the year to March 2012, lifted by an increase in the gross profit margin from 36.3 to 38.9 . The final dividend increased Read more

Smaller stores pay off for Lewis – Business Report

May 24, 2011

Furniture retailer Lewis Group’s strategy to open smaller-format stores in high-density trading areas is paying off by generating sales on a par with bigger stores, but at significantly lower cost. This, along with new merchandise, better credit sales and higher collections, helped the group perform well in the year to March. Forty new stores were Read more

Lewis looks to smaller stores to boost margins – Business Day

FURNITURE retailer Lewis says it plans to expand its existing 582 stores to 700, as it focuses on smaller-format stores to boost margins. The owner of the Lewis and the Best Home & Electric brands planned to build on the 40 stores it opened in the year to March — almost half of which were Read more

Lewis to ramp up S.Africa store openings – Reuters

May 23, 2011

JOHANNESBURG (Reuters) – South African furniture retailer Lewis plans to increase store numbers by a fifth in the next two to three years in a bet on recovery in Africa’s top economy. But CEO John Elsin told Reuters expansion into fast-growing sub-Saharan Africa was on hold, highlighting the difficulty for credit retailers in areas with Read more

Lewis profit jumps 21% – Reuters

Johannesburg – Furniture retailer Lewis Group [JSE:LEW] reported a forecast-beating 20.6% rise in full-year profit, helped by a decline in debtor costs as consumer spending slowly recovers. Lewis, whose stores of the same name caters for the low end of the furniture market, said on Monday diluted headline earnings per share (EPS) totalled 772.2c in Read more

Lewis Group earnings up 22% on strong trading performance

Cape Town – Furniture retailer Lewis Group posted a strong trading performance for the financial year to March 2011 and increased headline earnings per share by 21.6% to 781 cents. A final dividend of 207 cents per share was declared, bringing the total dividend for the year to 363 cents (2010: 323 cents). Chief executive, Read more

Furniture sector out of the woods: Lewis Group CE – I-Net Bridge

Johannesburg, May 23 (I-Net Bridge) – The improved economic health of its customers had led to an increase in sales and credit collections for furniture retailer Lewis Group (LEW), said CE Johan Enslin on Monday. Lewis Group reported an increase in earnings of 21.6% to 781 cents a share, while merchandise sales increased by 12% Read more

Lewis revenue continues to rise – Business Report

January 24, 2011

Furniture retailer Lewis Group is benefiting from improved trading conditions and debtor collections, despite continued high levels of unemployment. The group said on Friday in a trading update that sales continued to improve since its interim reporting period, with merchandise sales for the quarter to December increasing an annual 13 percent. Merchandise sales for the Read more

Quarterly sales up 13% as Lewis keeps its customers – Business Day

FURNITURE retailer Lewis said on Friday its merchandise sales for the third quarter ended December had increased 13%, as the company continued to benefit from its policy of working to “re-serve” customers. Merchandise sales for the nine months to December last year were also strong, reflecting a cumulative increase of 12%. “Lewis has done well Read more

Lewis posts profit growth as bad debt costs stabilise – Business Day

November 9, 2010

FURNITURE retailer Lewis Group said yesterday that pretax profit rose 14% in the six months to September as sales increased and bad debt costs stabilised. The company that operates 565 stores under the Lewis, Best Home and Electric brands, said pretax profit increased to R441,9m from R386,6m. Furniture and appliance sales rose 11,1% with electronic Read more

Bottom-line profit up 14.5% for Lewis Group – I-Net Bridge

November 8, 2010

Exclusive merchandise and an improved trading environment has seen furniture retailer Lewis Group (LEW) increase bottom-line profit by 14.5%. “Stronger sales growth was driven by the steadily improving financial state of consumers in the Lewis target market and the focus on sourcing exclusive merchandise ranges,” said chief executive, Johan Enslin. On Monday, the company, which Read more

Lewis Group earnings up 14.5% on stronger sales and collections

Cape Town – Furniture retailer Lewis Group increased headline earnings per share by 14.5% to 332.5 cents in the six months to September 2010 as merchandise sales grew by 11.2% and credit collections continued to improve. An interim dividend of 156 cents per share was declared, an increase of 8.3%. Chief executive, Johan Enslin, said Read more

Lewis leads the way for furniture industry up-tick – I-Net Bridge

August 10, 2010

Retail sales figures grew for the fifth consecutive month to 4.6% year-on-year for the three months ended May, indicating that consumers are slowly releasing their spending brakes and dipping into their pockets. Coming off a very low base after the economic downturn, hard-pressed furniture retailers seem to be gearing up for a turn in the Read more

‘True-blue retailer’ – Finweek

June 1, 2010

Johan Enslin – he’s 36 years old. And yet after being in the hot seat for barely a year, Johan Enslin – CEO of household furniture and home appliances group Lewis – has taken the investment community into his confidence and demonstrated he was the right choice to fill the shoes of retail doyen Alan Read more

Lewis Group lifts profits 9% as credit conditions stabilise

May 19, 2010

– Furniture retailer Lewis Group lifted revenue by 8% to R4.1 billion in the year to March 2010 as the early signs of improving economic conditions started to benefit consumers, while improved margins increased the group’s profitability by 9%. Earnings per share increased by 5.6% to 672.0 cents and the total dividend was maintained at Read more

Lewis sitting pretty – Finweek

January 27, 2010

AFTER A TORRID 2009, this year may yet be another rough one for South Africa’s furniture stocks, despite signs of economic recovery. That’s because the sector’s recovery largely hinges on two factors: better debt collections and an uptick in sales. But analysts have expressed mixed feelings about the sector’s prospects this year in light of Read more

Lewis results beat all predictions – Business Report

January 22, 2010

Fourth-quarter revenue increases by 7.9% Furniture retailer Lewis increased merchandise sales by 11.7 percent last month, astonishing analysts who had expected a dismal performance for durable goods retailers over the festive season. Revenue for the quarter to December grew by 7.9 percent year on year, with merchandise sales for the same period increasing by 7.3 Read more

Lewis bucks the trend of sector decline – The Times

Furniture retailer Lewis Group continues to earn solid returns – it released a trading update yesterday showing revenue for the final quarter of last year rising by 7.9%. December was particularly encouraging, with sales up by 11.7%. For the interim reporting period, growth was up 8%. Most of the food and clothing retailers have posted Read more

Launch of Lewis Group CSI website

We are excited to launch this website as a key information and communication portal on the corporate social initiatives of the Lewis Group. We endeavour to make a difference in our communities and society – and core to the Lewis CSI strategy is our motto – Supporting communities that support us – that you see Read more

Lewis Group revenue up 8% as dividend maintained

November 9, 2009

Furniture retailer Lewis Group has continued to show an improving trend in revenue growth in the six months to end September 2009, with revenue increasing 7.9% to R1.95 billion and merchandise sales up 6.8% to R951 million. The group has maintained its interim dividend at 144 cents per share. Chief executive, Johan Enslin, said the Read more

Lewis progresses on debt recovery – Business Report

May 19, 2009

Revenue grows 6% despite tough times The passing of the National Credit Act nearly two years ago limited the number of customers who were overextended and many had now paid off earlier debt and were eligible for more credit, Alan Smart, the chief executive of furniture retailer the Lewis Group, said yesterday. However, 25.4 percent Read more

Resilient performance as Lewis Group maintains dividend

May 18, 2009

Furniture retailer Lewis Group delivered a resilient performance in the year to 31 March 2009 as the group posted solid revenue growth, strong cash flows and maintained its dividend at 323 cents per share. Group chief executive, Alan Smart, described trading conditions as “the most demanding experienced in the credit retail sector for many years.” Read more