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Retailers News

Toys 'R' Us files for bankruptcy
©Taina Sohlman via 123RF
NEW YORK, US - Retailer Toys 'R' Us has filed for Chapter 11 bankruptcy protection in a US court, the company said, amid heavy debt and a tough environment for brick-and-mortar stores. The chain which sells toys and baby products in the United States as well 38 other countries and jurisdictions joins other traditional retailers that are struggling to compete with the likes of Amazon. 19 Sep 2017
Image credit: Financial Mail
Image credit: Financial Mail
Steinhoff International said on Friday it had raised at least R15.4bn for its African retail assets, which it plans to list separately on the JSE on Wednesday. 18 Sep 2017
#FreshConnections: Maryla Masojada on the state of fresh produce retail in SA
Retailers in South Africa operate in an extreme social environment. On one hand there's social unrest and on the other, customers are splurging R600,000 on a bottle of whiskey. This kind of market demands a plethora of responses from retailers in terms of how they service consumers that have such dramatically different realities. 12 Sep 2017
Amazon's appetite for disruption
Amazon is not wasting time in its acquisition of Whole Foods. Speed of execution, after all, is at the essence of the tech giant's business model. 8 Sep 2017
Exclusive Books Fanatics programme turns 20
©Dmitriy Shironosov via 123RF
Exclusive Books is celebrating the 20-year anniversary of its Fanatics loyalty programme, which now boasts 750,000 members. 7 Sep 2017
Wiese, Steinhoff take full control of Shoprite
Steinhoff and Christo Wiese are to emerge as the outright controlling shareholders of Shoprite after Shoprite shareholders' backed the repurchase of 8.7-million shares from former CEO Whitey Basson. 7 Sep 2017
Shoprite found guilty of reckless lending
©alexskopje via 123RF
The National Consumer Tribunal has handed down judgement that finds Shoprite guilty of reckless lending. 6 Sep 2017
The Space launches Now Showing, its first out-of-mall boutique store
The team behind The Space has launched Now Showing, a regularly transforming shopping space offering fashion and lifestyle innovation as well as private wine tastings. 5 Sep 2017
Woolworths CEO Ian Moir.
Woolworths CEO Ian Moir.
The Woolworths top management will not receive Christmas bonuses as the retailer failed to achieve profit targets. 5 Sep 2017
Image credit: Freddy Mavunda via Business Day
Image credit: Freddy Mavunda via Business Day
Clothing and homeware retailer Mr Price says it is making headway in its attempt to regain market share lost by its clothing units, MRP Apparel and Milady's. 4 Sep 2017
Setting up shop in Africa presents challenges
Although there are untapped opportunities in the sub-Saharan African real estate markets, retailers face many challenges to setting up shops in some countries. 31 Aug 2017
Steinhoff CEO Markus Jooste
Steinhoff CEO Markus Jooste
For the second time in less than two years, retail group Steinhoff's share price has been pummelled by allegations relating to its tax and accounting practices. 29 Aug 2017
TFG's offshore diversification is paying dividends during tough times, says CEO
TFG CEO Doug Murray says the company's diversification strategy has served it well in the past three years, enabling the group to perform better than its peers. 28 Aug 2017
Massmart sticks to expansion strategy
Massmart says it has not given up on Africa and will continue to invest in its business on the continent. CEO Guy Hayward said that despite the challenges faced by most African economies, there were signs the tide could yet change for the better. 28 Aug 2017
Woolworths expands food division but clothing remains biggest profit driver
Woolworths' clothing division remains its biggest profit centre, despite flat sales and squeezed margins. The retail group reported on Thursday morning that overall revenue for the 52 weeks to June 25 grew 3.7% to R69bn. 25 Aug 2017
Sandton City adds five athleisure stores
Adidas recently opened its ‘HomeCourt' performance store at Sandton City. Over the next two months, more boutique sportswear brands, collections and collaborations will be joining the mall. Plein Sport, the world's luxury active sportswear brand, will debut its first South African store at Sandton City. Also sought-after performance apparel names Under Armour, Puma and Kappa will all open at Sandton City. 25 Aug 2017
Shoprite continues to defy tough conditions
Shoprite's result for the financial year to 2 July contained good news for everyone except its competitors. For management and shareholders, the good news included a 12% rise in diluted headline earnings and a 11.5% increase in dividends. 23 Aug 2017
Innovation, product diversification drives forecourt retail growth
Expansion in the forecourt convenience retail industry continues, despite the general downturn of the retail industry as a whole. 22 Aug 2017
Image credit : Business Day
Image credit : Business Day
SA's largest clothing and footwear retailer Edcon swung into a trading profit in the first quarter of its new financial year despite a deterioration of the operating environment, says CEO Bernie Brookes. 22 Aug 2017
Truworths CEO Michael Mark. Image credit: Ruvan Boshoff via Business Live
Truworths CEO Michael Mark. Image credit: Ruvan Boshoff via Business Live
Truworths' share price jumped almost 5% by the close of the JSE on Thursday despite the retailer reporting a contraction in earnings and little growth in full-year profit. 21 Aug 2017
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