Why Clicks’ strong interim results are bad for Dis-Chem

Clicks was among the JSE’s top performers on Monday after reporting that interim diluted headline earnings per share will be higher than expected. The retailer attributed this to a stronger retail performance in the second half, new distribution contracts and further improvements in working capital management. Edgar Mafoko, Portfolio Manager at FNB Wealth and Investments explained why this could be bad news for Dis-Chem.

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