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Retailers News

Image credit: Dean Hutton via Bloomberg
Image credit: Dean Hutton via Bloomberg
Massmart recorded muted growth for the year to December as it battled a weaker economy and stronger rand. 19 Jan 2018
Image credit: Freddy Mavunda
Image credit: Freddy Mavunda
Mr Price outperformed other retailers in the three months to December, recording 8.3% growth in sales. 19 Jan 2018
Top five trends for convenience retail in 2018
With the continued growth and awareness of the convenience retail sector and the strengthening of its position as part of the traditional retail industry, organisations such as the National Association of Convenience Stores (NACS) are employing the expertise of convenience and fuel retailing industry professionals from around the world to discuss and debate international best practice on key trends and developments and rate best in class international retailers. 19 Jan 2018
TFG CEO Doug Murray
TFG CEO Doug Murray
Retail group TFG - whose brands include Foschini, Markham and @home - enjoyed Christmas sales in 2017 that were 31% higher than the previous year's. 18 Jan 2018
Shoprite feels African slowdown
Shoprite's non-South African supermarket division recorded negative growth for the six months to December, owing to the effect of lower commodity prices on and the depreciation of currencies of the countries in which the group operates. 18 Jan 2018
Image credit: Martin Rhodes
Image credit: Martin Rhodes
Former Shoprite Holdings CEO Whitey Basson says he vouches for the honesty of his friend and fellow Shoprite shareholder of many years, former Steinhoff chairman Christo Wiese, and will assist the collapsed furniture, apparel and home products retailer if he can. 17 Jan 2018
Woolworths shares fall almost 10% after poor HEPS forecast
Woolworths share price fell as much as 9% to R57.64 on Monday morning after said its interim headline earnings per share (HEPS) were expected to fall as much as 17.5%. 16 Jan 2018
Image credit: Jessica Levitt via Times Live
Image credit: Jessica Levitt via Times Live
Just as many South Africans were recovering from the drama caused by the Economic Freedom Fighters over the weekend, the red berets yet again stormed one of the biggest malls in the country, Mall of Africa in Midrand north of Johannesburg. 16 Jan 2018
Image credit: IOL
Image credit: IOL
The Dutch Investors Association (VEB) says it has been approached by many South African-registered Steinhoff shareholders interested in participating in its class action against Steinhoff. 12 Jan 2018
Woolworths adds Balmain brand
Clothing and food retailer Woolworths is looking to bolster sales in the struggling Australian unit by adding the Balmain brand to its offerings. 11 Jan 2018
Exclusive Books grants granny's birthday wish
Exclusive Books fulfilled the dream of Carina Greyling of Kempton Park, Johannesburg, who had, according to her four children, listed being "locked inside an Exclusive Books for the night" as her top birthday wish. 8 Jan 2018
Steinhoff announces management changes and plans to improve liquidity
Steinhoff said after the JSE's close on Thursday that Ben la Grange had stepped down as finance chief to focus on shoring up liquidity within the beleaguered retailer, which said "significant near-term liquidity" was still needed. 5 Jan 2018
Erinamukuta via
Erinamukuta via Wikimedia
Dar es Salaam, Tanzania - Uchumi Supermarket Suppliers Union chairman Joseph Mlay has confirmed that the first batch of names who are owed by the supermarket chain has been released and awaiting for government tools to be appointed by Kenya government to release the funds. 3 Jan 2018
Moody's slashes Steinhoff credit rating
Credit ratings agency Moody's downgraded debt held by embattled South Africa-based home retail giant Steinhoff on Thursday and warned of further downgrades amid "increasing pressure" on the company's cashflow. 29 Dec 2017
Christmas shopping is changing - but retailers must accept that pop-up stores are here to stay
At Christmas time, vacant shop spaces suddenly fill with new vendors selling decorations, small toys, gifts and calendars for the following year. Christmas markets seem to materialise out of thin air, and even online retailers set up shop on the high street. By the new year, these will all vanish without a trace. Yet for businesses, the pop-up store phenomenon is more than just a phase. 27 Dec 2017
Hamleys opens its largest toy store in Beijing amid Christmas debate
©TEA via 123RF
BEIJING, China - British toy retailer Hamleys opened its largest store in the world in Beijing on Saturday, just two days before Christmas as debate played out over whether the holiday should be banned in the Communist country. 27 Dec 2017
Warning to liquor traders to toe line
©lecic via 123RF
Eastern Cape Liquor Board chairman Khanyile Maneli has warned traders not to sell alcohol to visibly drunk motorists as this would be a violation of their trading conditions. 27 Dec 2017
Steinhoff unable to give details of irregularities
©Jonathan Weiss via 123RF
Steinhoff's eagerly awaited presentation to a group of its bankers was met with dismay on Tuesday, as the global furniture retailer said that it could still not quantify the magnitude of the "accounting irregularities" that had led to the bombshell resignation of its charismatic CEO Markus Jooste two weeks ago. 21 Dec 2017
Image credit: Michael Ettershank
Image credit: Michael Ettershank
Pre-Christmas shopping may be disrupted on Friday when supermarket workers down tools. 20 Dec 2017
Reshuffle of Steinhoff's management board sees three new appointments
Steinhoff International promoted its chief operating officer, Danie van der Merwe, to acting CEO on Tuesday. 20 Dec 2017
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