LEW closing at R94.26 is still cheap for furniture retail, especially if they can tighten up that credit bo…by @momentumtracker_jse on $LEW

LEW closing at R94.26 is still cheap for furniture retail, especially if they can tighten up that credit book. Credit loss ratios have been gnawing at margins but demand side looks solid with all the load-shedding driving people to upgrade appliances. Furniture retailers usually trade 0.6x book, we're closer to 0.5x, feels like there's legs here if they execute.