Customers flock to new Edcon shops
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Edcon, which has been delisted following its acquisition by Bain Capital, had acquired more customers buying on credit after opening 92 new stores, lifting the total number of stores to 1 233, the retail chain said yesterday.
It had raised retail sales by 9.4 percent. Stores existing before the current financial year accounted for 3.2 percent of this rise.
About 52 percent of sales were on credit.
Adjusted earnings before interest, tax, depreciation and amortisation rose to R3.4 billion.
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