Clicks aiming for 900 stores - 'There are still 300 more pharmacies to open!'
Group turnover is up by 7.6% and Group operating profit increased by 9.7% (to R1.4 billion).
Headline earnings grew by 8.1% to R920 million.
In January 2021, the Clicks Group announced the closure of Musica with effect from 31 May.
Group CEO Vikesh Ramsunder tells Bruce Whitfield Musica had already been "on life support" before the Covid-19 pandemic struck.
What Covid did was certainly push it over the edge. The format and the business model has been under pressure for many years now... with customers consuming music in a digital way.Vikesh Ramsunder, CEO - Clicks Group
We certainly didn't have any offers for the Musica business.Vikesh Ramsunder, CEO - Clicks Group
Ramsunder describes the impact of the hard lockdown on Clicks stores and the Group's plans to expand the store network.
In the last destination stores the footfall has declined significantly... Over Covid, people shopped closest to home and the beneficiaries were the smaller, neighbourhood shopping malls.Vikesh Ramsunder, CEO - Clicks Group
If we didn't have the convenience stores our results would have been far worse There's no doubt that having a convenience format - and having driven that strategy over the past decade - has paid dividends, particularly over Covid.Vikesh Ramsunder, CEO - Clicks Group
We want to get to 900 stores in South Africa. We know exactly where we want to open... This year we opened 40...Vikesh Ramsunder, CEO - Clicks Group
This is not opportunistic. We have a planned rollout process so that we don't unduly cannibalise our existing store base.Vikesh Ramsunder, CEO - Clicks Group
Currently, Clicks has 721 stores in South Africa.
Of those, 600 have pharmacies.
"If we want to get to 900 stores with a pharmacy in every store, there are still 300 more pharmacies to open as well."
Listen to Ramsunder also discuss online growth below:
This article first appeared on CapeTalk : Clicks aiming for 900 stores - 'There are still 300 more pharmacies to open!'
Source : https://twitter.com/clicks_sa
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