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Retailers News

Buffett's Walmart sell-off is bad news for retailers
©niloo138 via 123RF
Billionaire investor Warren Buffett has dumped 90% of his Walmart shares, worth $900m. 20 Feb 2017
Woolies sees green shoots in Australia
Woolworths says it is beginning to see some "green shoots" in its Australian operations, with significant changes in store for David Jones and Country Road Group. 20 Feb 2017
Source: Freddy Mavunda via
Source: Freddy Mavunda via Financial Mail
A contentious “rescue plan” to save 159-year-old retailer Stuttafords goes to a vote today in what promises to be a hot-tempered meeting. 20 Feb 2017
Woolworths CE Ian Moir.
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Woolworths CE Ian Moir. Picture: Trevor Samson/Business Day
Woolworths has turned its focus to sourcing goods from SA and the Southern African Development Community (SADC), a move that CEO Ian Moir says has been good for business. In the 26 weeks ended December 25, its clothing and general merchandise sales grew by 3.5% with inflation of 7.3%. Comparable sales in this segment grew by 1.2%. 17 Feb 2017
Martin Kruger
Martin Kruger
A newly announced business partnership between Panasonic and Mustek will enable Mustek to start distributing Panasonic products such as document scanners, Toughbook mobile computers and high definition visual communications (HDVC) video conferencing solutions. 16 Feb 2017
Image via
Image via Business Day
Moody's Investors Service has joined other rating agencies and withdrawn all of its ratings on Edcon. Earlier this month S&P Global also announced that it had withdrawn its ratings on Edcon, after downgrading the group's long-term corporate credit rating to default. 15 Feb 2017
Jitter over Shoprite deal
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Six weeks into the new year, the big question dominating chatter in the investment community is this: will SA's wealthiest man, Christo Wiese, be allowed to vote his shares in the mega Shoprite/Steinhoff deal? 13 Feb 2017
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
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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
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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
Picture:
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
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