VFEX-listed Edgars Stores Limited has told investors that it is currently assessing a potential transaction that might have material impact on its stock.
“Further details of the transaction will be provided to Shareholders once all regulatory processes and further deliberations have been finalized,” the clothing retailer said in a statement.
Last year, Edgars invested US$1,1 million to maintain and expand production capacity, with a focus on upgrading cutting room systems.
Management expects the improvements to boost output, minimise fabric waste and enhance cost efficiency, positioning Carousel as a key contributor to profitability.
The stronger production performance supported overall trading, with merchandise revenue increasing 12 percent to US$34 million during the period.
Growth was underpinned by firmer demand, improved execution in stores and better product availability.
Total units sold rose 19,3 percent to 2,38 million, reflecting solid performance across both the Edgars and Jet chains.
Edgars recorded turnover of US$18,7 million, up 10,2 percent year-on-year, with volumes reaching 990 000 units.
Jet matched that growth rate, with revenue climbing to US$14,7 million, while units sold totalled 1,25 million.