Lewis (LEW) is a retailer of furniture and electrical appliances operating through 779 stores under the Lewis (494 stores), Beares (119 stores), Best Home (133 stores), and most recently, United Furniture Outlets (33 stores) brands. Of these stores, 116 are in neighbouring countries.
The company does 65,7% of its business on credit and offers customers credit insurance and other financial products. In the middle of 2015, the company’s insurance business and credit business came under scrutiny and it was forced to repay customers for what were considered to be illegal insurance and other fees. This had a significant impact on the company’s share price which fell from around R100 to as low as R25. Read More