Strike wipes R74m off Dis-Chem profits

Five-month stoppage affected operations at three of group’s four distribution centres and involved 2,300 of its 15,000 staffIvan Saltzman, CEO of Dischem. Picture: RUSSELL ROBERTS/FINANCIAL MAIL

Strike-related expenses, such as the bringing in of additional staff, security, loss of logistic fees, relocation costs and legal fees amounted to R50.4m. The pharmacies group said it also cost it about R26m in lost sales. Dis-Chem CFO Rui Morais said the group made some changes to how it granted bonuses but it was looking at making them before the strike. “In the end, there were no winners.”

Although the strike impacted its operations for the year, Saltzman maintained “they were still good results”. Although these retailers are often compared, there were some differences, noted investment analyst Chris Gilmour. “What really distinguishes Dis-Chem from Clicks is that Dis-Chem is a destination store,” he said.

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