Clicks ramps up capex spend towards target of 900 stores in SA

CLICKS, the JSE-listed health and beauty retailer, announced yesterday that it would spend R846 million of capex in the new financial year for the expansion of stores as it inches towards its target of establishing 900 stores in South Africa in the long term.

The group said this included 25 to 30 new stores and 30 to 35 new pharmacies, in addition to the acquisition of 25 Pick n Pay pharmacies recently approved by the Competition Commission, as well as IT systems and supply chain infrastructure.

Chief executive Vikesh Ramsunder said the group was investing in growth and was not fazed by South Africa’s slow economic growth rate. “We believe in our strategy that there is longterm growth potential for the business in South Africa,” he said.