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Retailers News

Rex Trueform ‘may restructure, shed remaining factory'
Manufacturing and retail group Rex Trueform would benefit by cleaning up its holding structure, and could strip out its remaining factory, say analysts. 14 Apr 2009
An indefinate strike by members of SA's four major transport unions was likely to cripple SA's biggest food chain store, Kevin Korb, director of food merchandise at Pick n Pay, said yesterday, 13 April 2009. 14 Apr 2009
Rate cuts could give Edcon R500m shot in the arm
Clothing retailer Edcon could benefit by as much as R500m as interest rates fell, an analyst said yesterday, 7 April 2009. 8 Apr 2009
Clothing retailer Pep aims to have 20 stores operating in Angola within the next three years as it rolls out on the continent country by country. Angola, officially the Republic of Angola, was a Portuguese colony from the 16th century to 1975 and is the second-largest petroleum and diamond producer in sub-Saharan Africa. 7 Apr 2009
Consumers can expect some relief as price cuts on basic food items start coming through the supply chain, Shoprite said last week. 7 Apr 2009
Gugs goes shopping
With 400,000 people in Gugulethu, the buying power in the Western Cape township is formidable. 30 Mar 2009
Ackerman still has ambitions to fulfil
At first glance, Raymond Ackerman doesn't look like the sort of chap who would follow you home. But he's bound to tell his driver to “follow that car” if it's full of Shoprite bags. 30 Mar 2009
Clothing group H&M reports profit slide
STOCKHOLM: Swedish clothing group Hennes & Mauritz (H&M) said on Thursday its first quarter net profit fell by 12.4% to 2,57 billion kronor (US$321 million) due to a weaker Swedish currency. 27 Mar 2009
Building company plans Africa expansion
Buiding materials retailer Hardware Warehouse (HWWH) has set its sights on an expansion drive into southern Africa over the next year. 26 Mar 2009
On a shopping spree - Massmart targets the grocery market
Independent retailers generate half the sales in SA's R250bn grocery market and service three-quarters of the population. “Only a quarter of the population is serviced by the formal sector,” says Massmart CEO Grant Pattison. “And the lower end consumer is still in good shape, though this may change.” 20 Mar 2009
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
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