Clicks Group turnover rises 5.4% as trading margin narrows

Clicks Group published reviewed annual results on 22 October 2026 for the year ended 31 August. Group turnover rose 5.4% to R50.4 billion, while diluted headline earnings per share increased 4.4% to 1,422 cents.

The results also showed pressure on profitability: the group trading margin declined by 10 basis points to 9.7%. Turnover growth alongside a lower margin indicates that higher sales did not prevent a contraction in this measure of trading profitability.

Retail conditions weigh on trading

Retail turnover grew 4.2%, while turnover at UPD, the group’s distribution business, increased 9.2%. Clicks Group said constrained consumer spending and aggressive competitor discounting shaped trading conditions.

The company attributed pressure on retail turnover to low selling-price inflation and increased promotions. It also cited delays in implementing a warehouse management system at its Cape Town distribution centre. These factors provide context for the gap between the group’s overall turnover growth and the more modest increase in retail turnover.

Store openings planned amid competition

Management expected the retail environment to remain highly competitive, with selling-price inflation continuing at a low level. It planned to open 40–50 new stores in financial year 2027. The stated outlook places that expansion plan against the competitive and pricing conditions described in the results.