Edgars have just released a 1Q17 trading update which both confirm and highlight the state of the business at this time. Sales fell -8.1% to R6 billion. Cash sales fell -2.7% and credit sales fell by -15.6%. Gross profit margin decreased to 36%. Management is blaming the following for the shocking results…. 1. Restructuring taking a lot of managements time. 2. Supply interruptions. 3. Reduction in office staff. 4. Late onset of winter. 5. Timing of Easter. This indicates just how far off reality the executive team is if it…
