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Retailers News

Two Eastern Cape business tycoons, who have been friends for over 26 years with joint business dealings, are at war over a shopping centre development in Grahamstown. 20 Mar 2009
South African retailers are seeing a rapid growth in the number of Chip and PIN cardholders at pay points, and are already upgrading their systems to accept these cards. 19 Mar 2009
New Clicks to sell Musica store leases to MTN
New Clicks Holdings on Thursday, 12 March 2009, said that it is to sell up to 17 Musica retail outlets to MTN and to release space for MTN in six other Musica stores. 12 Mar 2009
Amap makes loss as consumers cut back
Consumer durables group Amalgamated Appliance Holdings (Amap) on Monday, 9 March 2009, reported revenue down a third as consumers reined in spending, especially on durable items. 11 Mar 2009
From Circuit City to ghost town
USA: What began 60 years ago as a humble television store in this sleepy southern capital of Richmond, Virginia, ended Sunday as Circuit City closed its doors for good - its 567 remaining US stores to be left broom clean and vacant. 10 Mar 2009
Massmart on growth trail
Mass discounter Massmart expects to create a fifth division by organic growth. 3 Mar 2009
Truworths is boringly predictable; Woolworths is in denial and Shoprite is riding a wave. Though the past six months have been a rough ride for the SA consumer, all these retailers managed to grow earnings. 2 Mar 2009
Wholesale and retail group Massmart on Thursday reported a 13.3% increase in headline earnings per share for the 26 weeks ended December 2008 from 370.3 cents to 420.1 cents. 27 Feb 2009
Fashion retailer Truworths last week said it expected space growth to moderate over the next few years as the development of malls stalled. 24 Feb 2009
South African clothing retailer Truworths International's CEO Michael Mark expects tough times ahead, but is confident that the group will achieve real earnings growth for the year to end June 2009. 20 Feb 2009
South African retailer Woolworths Holdings on Thursday reported an 11.5% increase in diluted headline earnings per share to 62 cents for the 26 weeks ended December 2008 from 55.6 cents a year ago. 19 Feb 2009
South African retail group Shoprite Holdings on Wednesday reported a 43.3% rise in diluted headline earnings per share to 184 cents for the six months ended December 2008 from 128.4 cents for the interim period a year ago. 19 Feb 2009
Food and clothing retailer Woolworths' pharmacy roll-out seems to have been dissolved before getting off the ground completely. 16 Feb 2009
The depression that hit JD Group's share price (down 60% in two years) reflects “scepticism that our strategy of splitting financial services from retail will work,” says chairman David Sussman. 13 Feb 2009
At the Irene Village Mall, you get to explore the “Udder Side of Life”. 12 Feb 2009
The expansion of Africa's largest retailer, Shoprite, into the continent is paying off as it said yesterday it expected earnings to improve at least 35% in the six months to December. 11 Feb 2009
Ceramic tile retailer Italtile said yesterday it would not be able to keep earnings growth at last year's levels after sales dropped in the first half of the year. 10 Feb 2009
PARIS: The Christian Dior luxury holding giant revealed a sharp slide in performance on Monday with a drop in fashion clothing profits after its main unit LVMH reported strains from the financial crisis. 10 Feb 2009
Woolworths is slashing the prices of 245 items across a broad range of goods from Monday, 9 February. 9 Feb 2009
Satori brings Zen balance to the Mother City
Cape Town's trendy design district, De Waterkant, has a new kid on the block with the arrival of Satori, a contemporary designware store located at The Hudson. Clients can choose from extraordinary items crafted both in South Africa and the East, from ornaments to large sculptures and furniture - picked from the Satori collection or commissioned as a bespoke piece. 6 Feb 2009
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