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Retailers News

Picture:
Picture: Bloomberg
The company says its cautious strategy in the rest of Africa is proving to be the right approach. 16 Jan 2017
Shoppers leave a Woolworths store in Lenasia, south of Johannesburg. Picture:
Shoppers leave a Woolworths store in Lenasia, south of Johannesburg. Picture: Reuters
The just-released trading update from Woolworths points to 2017 being another extremely tough year for a group that was, until as recently as the end of 2015, one of the darlings of the investment community. 13 Jan 2017
(c) radub85 -
(c) radub85 - 123RF.com
There are further signs of trouble in SA's struggling retail sector, with Woolworths releasing a poor trading update that analysts say can only be a bad omen for the rest of the retailers still to release their Christmas figures. 13 Jan 2017
Picture:
Picture: BDlive
Retailer says exclusion of Boxing Day from first-half figures is partly to blame for lacklustre sales growth. 13 Jan 2017
Tiger Brands bosses cash in after failure
Months after taking a R2.2bn write-down on its disastrous Nigerian acquisition, Tiger Brands' remuneration committee raised the fees of the directors who had overseen the decision to invest in the value- destroying Dangote Flour Mills. 6 Jan 2017
Edcon gets buy-in for new company
It was a busy end to 2016 for Edcon as the retailer cleared what CEO Bernie Brookes called "the last hurdle" in a deal that will see the group come under its creditors' ownership. 6 Jan 2017
Shares in UK clothing groups slump on price warning
LONDON: British clothes retailer Next on Wednesday warned of a tougher trading year ahead as uncertainty caused by Brexit weakens the pound and pushes up the cost of raw materials. 5 Jan 2017
Ellies stays solvent despite TV migration delays and Megatron divorce
Electronics group Ellies managed to remain solvent despite delays in SA's migration from analogue to digital television and its divorce from Megatron, its interim results released on Thursday showed. 30 Dec 2016
- Topco Media
Standard Bank tables a power breakfast for women in retail
On Friday, 9 December 2016, Standard Bank and Topco Media brought close to 100 businesswomen together at the forefront of South African retail to unpack opportunities for success in the retail industry sector. 14 Dec 2016
Pinch: Credit sales at Shoprite Investments dropped for the first time since listing as consumers cut spending.
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Pinch: Credit sales at Shoprite Investments dropped for the first time since listing as consumers cut spending. Picture: BDlive/Freddy Mavunda
The lending arm of Africa's largest retailer sees a decline in credit sales for the first time since listing. 9 Dec 2016
Bernie Brookes
Picture: [https://www.businesslive.co.za/bd/companies/retail-and-consumer/2016-11-23-edcon-aims-to-win-hearts-and-reap-rewards-in-peak-season/ BDlive]]
Bernie Brookes Picture: [https://www.businesslive.co.za/bd/companies/retail-and-consumer/2016-11-23-edcon-aims-to-win-hearts-and-reap-rewards-in-peak-season/ BDlive]]
Edcon says it has implemented targeted initiatives for the peak season in a bid to lure customers back through its doors. 23 Nov 2016
Graham O’Connor.
Picture:
Graham O’Connor. Picture: Financial Mail
Spar Group has reported a 12% surge in full-year operating profit, largely defying the malaise in the local retail sector and the Brexit-inspired dip in Europe's consumer confidence. 17 Nov 2016
A Spar store in Rosemount, South Africa.
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A Spar store in Rosemount, South Africa. Picture: BDlive
Expansion into Switzerland helped grocery chain Spar grow revenue 24.5% to R92.2bn and attributable profit 27.7% to R1.8bn in the year to end-September, it reported on Wednesday morning. 16 Nov 2016
Picture:
Picture: Sunday Times
Retailer Mr Price managed to offset some of the slump in clothing sales with better performance by its other divisions. 14 Nov 2016
Picture:
Picture: James Oatway
A grim trading update from Woolworths on Friday dealt a hefty blow to already weak investor sentiment towards the retail sector. 14 Nov 2016
Woolworths store at the V&A Waterfront in Cape Town.
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Woolworths store at the V&A Waterfront in Cape Town. Picture: Supplied
Summer sales might offer a helpful fillip for clothing retailer Woolworths after a poor winter start to the first 19 weeks of this financial year. 11 Nov 2016
Picture: Supplied
Picture: Supplied
Checkers is the first major South African supermarket to develop a private label, banting-friendly range, called 'Banting Revolution'. 11 Nov 2016
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Furniture retailer Lewis more than halved its interim dividend to R1 from the matching period's R2.15. 10 Nov 2016
(c) Illia Uriadnikov -
(c) Illia Uriadnikov - 123RF.com
Lewis Group has dismissed allegations of wrongdoing relating to the practice of cancelling credit transactions in default and reinvoicing them as cash sales, saying this did not affect provisions for future bad debt. 9 Nov 2016
Pick n Pay supermarket at the Kamfinsa Shopping Centre in Harare, in Zimbabwe.
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Pick n Pay supermarket at the Kamfinsa Shopping Centre in Harare, in Zimbabwe. Picture: AVUSA
Pick n Pay does not believe there is a basis for the inquiry into the grocery retail sector. In its nonconfidential submission prepared by law firm Nortons to the panel overseeing the process, the retailer says there is a relatively clear difference between the formal and informal grocery retail trade. 9 Nov 2016
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