Cashbuild sees drop in sales

Johannesburg – Building materials retailer Cashbuild has seen a 10% drop in sales in its latest quarter.

It comes as South Africans begin to focus less on home improvements as more of them return to offices.

The home improvement sector saw a surge in sales during the tight lockdowns as many consumers zoned in on their home improvements.  However, consumers are facing higher costs.

Cashbuild said its selling inflation is up by 8% since last year.

The retailer was also hit by the July unrest in parts of KwaZulu-Natal and Gauteng last year.

Thirty-six stores were affected. It’s rebuilding five of the stores.