Australian retail mogul Solomon Lew has lashed out at Woolworths‚ accusing the South African company of using the planned acquisition by Country Road of fashion group Witchery to force him out of Country Road‚ legal letters revealed yesterday‚ Business Day reported. 15 Aug 2012
The spate of global retailers expanding into the South African market as a result of the strong profits achieved in the sector over the past decade adds further credence to value based asset manager RE:CM's view that share prices of local players are expensive and offer very little value for investors. 15 Aug 2012
Investors are questioning whether Pick n Pay has made a recovery in an environment where consumers face rising food and fuel costs, while new entrants in the retail space have raised concerns whether the company has halted market share decline. 14 Aug 2012
The UK's largest retailer, Tesco, may target SA's Pick n Pay if it emulates Wal-Mart and looks for growth in this country, an international retail expert has said. 13 Aug 2012
Massmart's (MSM) earnings update disappointed the market on Tuesday, 7 August 2012, with the shares falling as much as 4.8% when the retailer said integration costs continued to eat into earnings in the 52 weeks to 24 June. 8 Aug 2012
Retailers are anticipating a slow-growth year, in line with decreasing economic prospects in both the domestic and global economies, following the release of the real retail sales for the first quarter of 2012 showing only a 1% year-on-year. 8 Aug 2012
If you have tons of money there's no such thing as a recession. 7 Aug 2012
South African consumers will pay far more for food in coming months due to rising costs and the worst US drought since 1956. 6 Aug 2012
International retailers setting up shop in SA as a gateway to the rest of the continent are likely to take a measured expansion approach‚ as they gain knowledge and test the local market. 6 Aug 2012
Retail share valuations are way too high, value-focused fund managers have been warning for well over a year. Paying no heed, the market has continued its love affair with retail in July, with the general retailers and food retailers indices on the JSE hitting new highs. 3 Aug 2012
In a move that will give scale to its lacklustre Australian business‚ Woolworths on Wednesday said Country Road‚ its 88% owned subsidiary, will acquire 40-year old fashion retailer Witchery Group from Gresham Private Equity for A$172m (about R1.5bn). 2 Aug 2012
Retailer Woolworths Holdings (WHL) announced on Wednesday, 1 August 2012, that its indirectly-held subsidiary‚ Country Road‚ has entered into an agreement to acquire the Witchery Group from Gresham Private Equity for A$172m. Witchery is one of Australia's leading fashion brands. 1 Aug 2012
With the entrance of British fast-fashion chain Topshop into SA, the local clothing sector could count on a proliferation of new brands coming into the market, meaning more competition, lower prices and narrower margins, an analyst said yesterday. 31 Jul 2012
Edcon‚ together with House of Busby has been granted the South African franchise rights for Topshop and Topman‚ the UK-based retail chain. 30 Jul 2012
Investec Property is developing a new 25 000m square shopping centre in Mayfield, Daveyton, to be known as Mayfield Square‚ that is significantly larger than any other retail centre in the area according to Darryl Mayers, head of the company's retail division. 25 Jul 2012
Clover Industries (CLR) and the Food & Allied Workers Union (Fawu) have reached a wage settlement‚ ending a six-day strike. 24 Jul 2012
The Reserve Bank has warned that food prices could remain elevated during the remainder of this year due to cost-push pressures arising from higher transport costs‚ electricity and refrigeration costs‚ and wage increases‚ the Reserve Bank said in its annual economic report released on Monday, 23 July 2012. 24 Jul 2012
Retailer Truworths on Friday said it expects both basic earnings and headline earnings per share for the 53-week period ended 1 July 2012 to be between 14% and 17% higher relative to the prior 52-week period ended 26 June 2011. 23 Jul 2012
Growth in SA's retail trade sales at constant prices jumped to 6,4% year-on-year (y/y) after a revised 1,1% [1,0%] growth in April‚ figures released on Wednesday by Statistics SA showed. 19 Jul 2012
Retail sales growth quickened more than expected‚ to 6.4% in May from 1.1% growth in April‚ figures from Statistics SA released on Wednesday, 18 July, showed. 19 Jul 2012
