Edgars Limited’s expansion drive, largely driven by relative economic stability, is set to see the retail giant open ten new stores in the full year 2025.
The company released its half-year financial results for the period ended 6 July 2025. So far, three new stores have been opened in Rusape, Tynwald, and along Robert Mugabe Road in Harare. The additions are expected to drive revenue growth while expanding the company’s footprint nationwide. Seven more outlets are earmarked for completion before year-end. The expansion targets the low-income segment and does not include credit facilities. Edgars is leveraging the Express Chain as its primary market expansion vehicle.
To date, the number of Express Stores has reached nine. This growth is underpinned by a relatively stable macro-economic environment, particularly a stable exchange rate during the half-year period, which has contributed to increased revenues. Additionally, a more reliable power supply has helped reduce overheads, enabling margins to firm at 1.1%. Volumes grew by 3.2%, rising from 849,725 units in the previous year to 877,411 units during the period under review.
Edgars contributed 2% to this growth, while the Express and Jet Chains contributed 1% and 0.28% respectively. Revenues for the Edgars Chain rose by 3% to USD 7.9 million in the first half of the year, reversing a 6% decline recorded during the same period last year. However, sales volumes saw a marginal 1% dip, falling from 375,099 units in the first half of the prior year to 371,368 units in the current period. Jet Chain revenue remained largely flat compared to the prior year, closing the half-year at USD 5.87 million (2024: USD 5.86 million), representing a slight 0.1% increase. Volumes also declined marginally by 0.6%, from 474,627 units to 471,791 units.
Revenues for the Express Chain remain relatively immaterial at this stage. Meanwhile, the company’s manufacturing arm, Carousel Manufacturing, received funding from the Reserve Bank of Zimbabwe’s Targeted Finance Facility (TFF). The funding was used to invest in a new cutting-room solution at a total cost of US$345,000. This investment aligns with Edgars’ cost-optimisation strategy by enhancing operational efficiency through the adoption of modern production technologies.
Carousel revenue increased by 40%, rising from US$132,000 in the prior year to US$185,000 in the current period. Looking ahead, Edgars plans to continue expanding its geographic footprint by opening new stores in strategic locations.
The favourable economic environment and ongoing government interventions to reduce the cost of doing business through regulatory review are expected to positively impact the company’s bottom line. The success of the 2024–2025 agricultural season is also projected to support broader economic recovery.
