Department store Stuttafords yesterday said it would reduce the number of its stores from 18 to 13 but make them bigger to ensure more customer space. 5 Jun 2009
WASHINGTON: Top US retailer Wal-Mart plans to create 22,000 jobs in its US stores in 2009, the company said in a statement on Thursday, 4 June 2009. 4 Jun 2009
PARIS: French fashion house Christian Lacroix was placed under administration on Tuesday, 2 June 2009, after filing for bankruptcy protection last week because of the global financial crisis, the company's lawyer said. 3 Jun 2009
At the heart of Mr Price's success is a group of 30 20-something whizz kids who trawl the Internet and travel the world. “I call them my kids,” says chief executive Alastair McArthur of the forecasting unit that ensures the group gets the design of clothing and homeware in line with overseas trends, at the right time. 1 Jun 2009
Furniture retailer Coricraft is moving into an expansion phase, and plans to open six stores this year and another three in the first quarter of next year. 1 Jun 2009
Fashion retailer Foschini has not escaped the economic turmoil, but managed to improve operating margins as a result of improved second-half trading. 29 May 2009
SA's largest clothing retailer Edcon, delisted since April 2007, said yesterday, 27 May 2009, it spent R571m in the year to March 2009, mostly on new stores, refurbishments and a new point-of-sale system. 28 May 2009
Mass retailer Massmart may be blocked in its bid to buy Finro Cash & Carry to grow subsidiary Masscash as the deal would limit competition in the food sector in Port Elizabeth, especially affecting low-income earners. 27 May 2009
Retail group Mr Price on Wednesday, 27 May 2009, reported diluted headline earnings per share of 244.6 cents for the year ended March 2009 from 210.8 cents a year ago - a rise of 16%. 27 May 2009
As one of the biggest retailers of pre-paid cellular products in South Africa, PEP is launching its own first PEPcell Starter Pack, powered by MTN. 27 May 2009
African Bank Investments (Abil), a provider of unsecured loans and the owner of furniture retailer Ellerines, continues to report double-digit earnings growth amid a financial storm that has seen bigger banks report earnings declines. 26 May 2009
BERLIN: Century-old German department store chain Hertie, owned by British financial group Dawnay Day, said it was going out of business and closing all 54 of its stores. 22 May 2009
LONDON: Prestigious British retailer Marks & Spencer said Tuesday, 19 May 2009, that annual net profit slumped nearly 40% in 2008-2009 and cut its dividend by a third due to an "uncertain economic outlook". 20 May 2009
Furniture retailer Lewis Group on Monday, 18 May 2009, reported diluted headline earnings per share of 634.1 cents for the year ended March from 688.1 cents a year ago. A final cash dividend of 179 cents per share was declared. 19 May 2009
South African wholesaler Massmart said on Tuesday, 12 May 2009, that for the 44 weeks to 3 May total sales increased 11.8% to R36.7 billion over the prior period, and comparable store sales grew 9.7%. Inflation for the period is estimated at 11.8%. 12 May 2009
MILAN: Italian clothing group Benetton said on Monday, 11 May 2009, its first quarter net profit slumped more than 37% as sales were hit by the global downturn and a strong euro crimped exports. 12 May 2009
Mass retailer Massmart iss continuing with its strategy of investing for the future despite the recession in the retail sector but would change its tactics to take advantage of new opportunities, CEO Grant Pattison said recently. 11 May 2009
Fitch Ratings says the outlook for South Africa's retail sector remains weak as the economy continues to contract in 2009. Fitch believes a sustained recovery for the broad retail sector is unlikely before 2010. 7 May 2009
DUBLIN: British supermarket giant Tesco said on Tuesday, 6 May 2009, that the group will slash prices in recession-hit Ireland by about 22% to woo customers tempted by competitors in Northern Ireland. 6 May 2009
Supermarket group Spar Group on Tuesday, 5 May 2009, reported a 20.5% rise in headline earnings per share to 242.5c for six months ended March 2009. Diluted HEPS amounted to 234.7c per share. 5 May 2009
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