Italtile, SA’s biggest retailer and manufacturer of tiles, bathroom-ware and related products, reported weaker earnings as consumers cut back on home improvement amid economic uncertainty, interest rate hikes, high inflation and other economic factors that squeezed their disposable income.
This also comes off the high of the Covid-19 pandemic during which the company’s brands CTM, Italtile Retail, TopT and U-Light as well as competitors such as building materials retailer Cashbuild, benefited from people spending more on home upgrades as many worked from home...
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