Cashbuild plans 15 new stores as sites become harder to find

Cashbuild plans to open about 15 stores in the next financial year as it pushes ahead with its expansion strategy, but the building retailer says suitable locations for its traditional stores are becoming harder to secure.

This has led Cashbuild to focus more on alternative formats as it looks for new locations. Of the nine stores opened during the 2026 financial year to end-June, two were traditional Cashbuild stores , while the remainder were smaller format or alternative stores.

According to CEO Werner de Jager, the traditional Cashbuild format requires suitable shopping centre developments, which have become less available.

“The traditional Cashbuild stores are more difficult to open because we need the shopping centre developer to open them and there are not that many of them at the moment that are suitable for us to go in,” he said.

Cashbuild said the opening and conversion of stores to its small-model format remains on track. The company is continuing with its store relocation and refurbishment programme. During the year it refurbished 19 outlets.

The group now has more than 40 stores approved for opening over the next three years, though De Jager does not believe all of them will materialise. He said, however, that Cashbuild expects to increase its store count substantially next year, even if it continues to close some underperformers.

“We believe we can open about 15 next year if everything goes according to plan; it will be good to grow the numbers again,” he said.

Cashbuild operated 317 stores at the end of June, including its Cashbuild and P&L Hardware brands. The group closed 11 stores during the year, comprising five Cashbuild stores and six P&L Hardware outlets. It also acquired three Amper Alles stores and disposed of its Malawi subsidiary, which had two shops.

The company said the P&L Hardware closures form part of an existing strategy to reduce the number of stores under the brand and convert some of them to Cashbuild stores.

The shift in store formats comes as Cashbuild deals with challenging trading conditions. Group revenue for the year increased 6% to R12.1bn while transactions through its tills were up 5%. Revenue from pre-existing stores increased 2% while the 20 new stores contributed 4% to overall revenue growth.

Headline earnings fell 8% to 959.9c while operating profit fell 15% to R292m. But the group still declared a final shareholder payout, albeit lower at 233c, down 22% from last year.

The retailer is expanding its product offering in some stores. De Jager said paint mixing and tinting had been introduced at about 60 outlets, boosting growth in the category.

He said it will continue its store expansion, relocation and refurbishment strategy in a controlled manner through its feasibility process.