Trending
6 tips to help scale up your small businessGrant Lapping
Honor rises to number one in China with excellent Magic6 ProLindsey Schutters
Elections 2024
Jobs
- Managers and Supervisors Johannesburg
- Store Manager Mossel Bay
- Store Manager Knysna
- Front Counter Assistant Johannesburg
- Temp Administrator George
- Store Manager Port Elizabeth
- Store Manager George
- Retail Executive Mbombela
- Retail Promoter Mbombela
Lewis shares rally as tribunal rules in its favour on club fees
The ruling comes less than a week after the regulator accused Mr Price of falling foul of the sections of the National Credit Act. The clothing retailer has dismissed the allegations.
The latest announcement helped lift Lewis's share price by more than 5% to R35.42 in the afternoon. Mr Price held its gains on the JSE in line with other retailers.
The tribunal found that the National Credit Act does not prevent credit providers from offering the services of a club to consumers, provided these services are not part of the "cost of credit", according to Lewis.
It was found that the club fees charged by Lewis did not form part of the cost of credit of any credit agreement between Lewis and its customers.
In May, the tribunal ordered the owner of clothing chains Edgars and Jet, Edcon, to refund club fees included in its credit agreements.
Source: BDpro
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.zaRelated
