TV Sales & Home recorded strong growth in the six months to December 31, with sales volumes rising 37% as demand for furniture and home appliances strengthened amid aggressive promotions and store expansion.
The retailer’s parent group, Axia Corporation, said volumes climbed to 112 774 units during the period, helping drive a 29% increase in turnover as more customers took advantage of competitive pricing and flexible credit options.
The performance was underpinned by robust festive season trading, with the business reporting record turnover during the Black Friday and Christmas promotions. Customer traffic during the period rose 33% year-on-year, while the credit book expanded by 70%, reflecting growing uptake of hire purchase facilities.
The company attributed the strong trading performance to a combination of an expanded product range, improved availability of credit and competitive pricing strategies aimed at broadening access to household goods.
“The growth was primarily driven by the diverse and quality product range, competitive pricing and the availability of credit, which enabled more customers to acquire products offered by the business,” the group said in its half-year financial results.
Expansion of the store network also supported the increase in sales volumes and customer reach.
During the reporting period, the business opened four new branches in Churchill, Mvurwi, Norton and Hogerty, widening its retail footprint and improving access to customers in both urban and smaller markets.
In addition, the company launched its first garrison outlet at Tongogara Barracks under the KG6 initiative, marking a new channel aimed at serving military communities.
Management indicated that two more garrison stores are expected to open by June as the group continues to roll out the concept.
The retailer said growth in e-commerce transactions, alongside the expansion of its credit book and continued development of the store network, remain key pillars supporting business growth.
TV Sales & Home is one of Axia Corporation’s core operating units, alongside automotive parts retailer Transerv and logistics business Distribution Group Africa.
For the six months to December 31, Axia reported group revenue of US$122 million, representing a 22% increase from the prior comparable period, supported by improved demand across its operating segments.
Profit before tax rose 28% to US$8.8 million, while headline earnings per share increased five percent to 0.61 US cents.
The group said it remains focused on expanding its product offering, growing its retail footprint and strengthening credit sales as it positions the business for further growth in the second half of the financial year.