Today's Labour News

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DisChemBusinessLive reports that Dis-Chem’s Christmas sales were hurt by a strike, the pharmacy chain warned in a trading update on Thursday morning.  

The company now expects earnings for its financial year to end-February to be about 20% higher, which is below its earlier target.  CEO Ivan Saltzman said:  “The current ongoing industrial action heavily impacted December trade and continues to affect the group.  Since the labour unrest is still ongoing, the full quantum of the impact is still unknown, but to date loss of income and additional costs directly linked to the industrial action have amounted to approximately R50m”  Excluding new stores, Dis-Chem’s retail revenue declined by 2.5% in December.  Including new stores, it grew its Christmas sales by 6.2%, “which was well below our expectations”.  The company explained further as follows:  “Although contingency plans were in place to ensure minimal disruption at our retail stores, we experienced lost opportunity sales in December primarily due to stock supply challenges.”

  • Read the original of Robert Laing’s report on this story in full at BusinessLive

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