Cape Town – Lewis Group today announced the acquisition of United Furniture Outlets (UFO), a cash retailer of luxury household furniture to the higher income market, for R320 million. UFO was established in 2004 and has a retail footprint of 30 stores. More than half the outlets are located in Gauteng, including its flagship 5…
Cape Town – Slowing economic conditions and the impact of the affordability assessment regulations severely impacted Lewis Group’s performance for the six months to September 2016, contributing to headline earnings for the half year declining from R287 million to R173 million. Headline earnings per share were 39.6% lower. The group declared a dividend of 100…
Cape Town – Lewis Group has completed the acquisition of a portfolio of 57 Ellerines and Beares stores in four southern African countries, expanding its store presence outside of South Africa to 120. This follows regulatory and competition approvals in each of these countries for the R250 million acquisition announced in November 2015. The stores…
