Furniture retailer not taking the hard times sitting down
There are many good reasons to consider Lewis a ‘buy’
Lewis Group (https://www.sharenet.co.za/v3/quickshare.php?scode=LEW) has continued its good run by reporting a solid set of interim results.
Lewis’s acquisition of local business United Furniture Outlets (UFO) two years ago has worked in its favour. With the backdrop of constrained consumer spending, the group generated double-digit growth for the six months ended September, in large part due to the investment in UFO.
Lewis’s strategy to diversify across market segments is bearing fruit. The purchase of UFO, a cash business, has enhanced the cash-credit sales mix for Lewis – thus reducing the group’s overall risk rating...