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Retailers News

Edcon CEO Bernie Brookes. Image by Freddy Mavunda via Business Day
Edcon CEO Bernie Brookes. Image by Freddy Mavunda via Business Day
First order of business at next Tuesday's inaugural meeting of the just appointed Edcon board will be the extension of Bernie Brookes's contract, which expires in September. 13 Feb 2017
Spar lags peers as share price drops
©06photo via 123RF
It has been a tough start to the year for Spar Group, which has seen its share price shed about 10% so far in 2017. The decline places the food retailer last in comparison to peers Shoprite, Woolworths and Pick n Pay. 9 Feb 2017
New boss vows to overhaul Edcon
The newly appointed chairman of Edcon said the retailer was too important to fail and would be turned around. Gareth Penny, who took up the position on Wednesday, said he was "confident we can continue to make progress in recreating a world-class retailer". 9 Feb 2017
Why new entrants struggle to break into South Africa's retail space
©Thananit Suntiviriyanon via 123RF
This article is part of a series of studies titled “Barriers to entry” and “The expansion of regional supermarket chains”. The article draws from studies that look at the spread of supermarkets in southern Africa and how the market power of large firms in different sectors can hold back economic development. 7 Feb 2017
Bernie Brookes. Image via Business Day
Bernie Brookes. Image via Business Day
Edcon officially belongs to its creditors with effect from 1 February, after it convinced senior lenders to accept a shareholding in the company, restructured its debt and made changes to the structure. 3 Feb 2017
Isaacgerg via
Isaacgerg via Wikimedia
Minority shareholders in Steinhoff and Shoprite remain unconvinced of the benefits of a proposed merger between the companies. The share prices of both are still trading below the levels at which they were in early December before the deal was flagged. 1 Feb 2017
Pepkor Africa appoints new MD
Garth Napier has been appointed managing director of retail chain Pepkor Africa, reporting to the Pepkor Africa Group MD, Leon Lourens. 1 Feb 2017
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Picture: Supplied
Promotional activity during Christmas drove consumer spending at beauty and health-care retailer Clicks, despite aggressive discounting elsewhere in the retail sector. 27 Jan 2017
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Picture: Adrian Dennis
LONDON - Supermarket chain Tesco, Britain's biggest retailer, announced Friday it has agreed to purchase food wholesaler Booker for £3.7 billion ($4.7 billion, 4.4 billion euros). 27 Jan 2017
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The Lewis share price held up reasonably well on Wednesday despite the release of yet another grim trading update from a major retail group. 27 Jan 2017
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Picture: Keara Edwards
Clicks enjoyed faster retail sales growth this Christmas than in 2015, it said in a trading update on Thursday morning. 27 Jan 2017
(c) pirina -
(c) pirina - 123RF.com
Although local retailers used the Black Friday phenomenon and rigorous promotions as best they could, the result was somewhat disappointing. 24 Jan 2017
Picture: Supplied
Picture: Supplied
A new food and product market will trade seven days a week in Regent Road in Sea Point, Cape Town. It will offer a hybrid mix of 40 designer retail stalls, a daily fresh goods market, a diverse weekly market, 15 food vendors, 3 bars and a live entertainment stage. 24 Jan 2017
Ian Moir
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Ian Moir Picture: Bloomberg
With even the darling of the retail sector now showing weakness, prospects for trading this year look bleak. 20 Jan 2017
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Disappointed investors punish the clothing retailer and shoot down its share price by close to 5%. 18 Jan 2017
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Picture: Bloomberg
The group's non-South African supermarkets record sales growth of 32.2%. 18 Jan 2017
File image of a Makro superstore in Milnerton, Cape Town. Makro is housed by Masswarehouse, a division of Massmart.
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File image of a Makro superstore in Milnerton, Cape Town. Makro is housed by Masswarehouse, a division of Massmart. Picture: Wikimedia Commons
Walmart subsidiary Massmart's sales grew 7.7% to R91.2bn in the 52 weeks to December 25‚ beating product inflation of 6.7%. 17 Jan 2017
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Picture: Sunday Times
Retailer TFG reported double-digit sales growth for the nine months to December, a feat that was widely applauded by the market, sending the share price soaring more than 6% in intraday trade. 17 Jan 2017
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Budget clothing retailer Mr Price suffered a 0.5% decline in sales to R6.1bn over the Christmas quarter even before taking into account high product inflation of 10.8%. 17 Jan 2017
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Picture: Sunday Times
TFG's share price shot up more than 6% in midday trade on Monday after the retailer said its Christmas sales exceeded expectation. 16 Jan 2017
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