RETAIL: HOME IMPROVEMENT
This sector comprises two listed companies on the JSE: Cashbuild (CSB) and Italtile (ITE).
INDUSTRY EXPOSURES
Business: Post-pandemic consumer spending on home improvements now constrained by sluggish economy and rising interest rates, with building activity dropping by nearly 20% in 2023. Competitors include Pepkor’s BUCO, Massmart’s Builders and Spar’s Build-It, together with an array of independent operators. The sector is also substantially exposed to an increase of unregulated, inferior products flooding the market.
Environment: Low to moderate materiality for this sector.
Society: Material issues:
Threat of unrest and rioting accompanying political instability
Intimidation on building sites
General shortage of talent
Management of load shedding (power outages)
Governance:
CSB: Stable board, CFO announcing retirement in 2024
In this report
Cashbuild (CSB)
Italtile (ITE)
Price: $245
Included:
Full 13-page report covering the 2 Home improvement companies in the Retail sector
Introductory in-person consultation, scheduled at your convenience; learn more about how to link FarSight scores with your valuation process, and get up-to-date answers to specifics on each company under coverage.