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Retailers News

Toys 'R' Us packs up its playroom in the US
©Taina Sohlman via 123RF
Toys 'R' Us Inc. is going out of business, shutting all of its 735 toy stores and Babies 'R' Us stores in the US after a failed turnaround. Approximately 33,000 jobs are expected to be affected by the liquidation. 16 Mar 2018
Shoprite and France's Carrefour go toe-to-toe in Kenya
Kenya is turning into an interesting battleground between South African grocery chain Shoprite and French rival Carrefour. 15 Mar 2018
Rise of second-hand trading benefits buyers, sellers and the planet
Trading in second-hand goods is as old as business itself - and now it's enjoying a rising new wave of popularity, to the benefit of both buyers and sellers, says Richard Mukheibir, CEO of Cash Converters Southern Africa. 14 Mar 2018
Image credit: Green Cross
Image credit: Green Cross
Consumer brands giant AVI, which performed commendably in the half-year to end-December, is determined to reboot its footwear division. 13 Mar 2018
Shirley Maltz, CEO of HomeChoice Holdings. Picture: Hetty Zantman via Business Day
Shirley Maltz, CEO of HomeChoice Holdings. Picture: Hetty Zantman via Business Day
Listed household goods retailer and financial services group Homechoice is gearing up to improve its digital offering to further enhance sales. 12 Mar 2018
Image credit : Business Day
Image credit : Business Day
Unlisted retail group Edcon has recorded a poor quarterly performance with a decline in sales and revenue. 9 Mar 2018
#SeamlessAfrica: An Afrocentric approach to store design
In the search to become 'more than a store', retailers in Africa need to put their customer at the heart of the operation, says Frans van der Colff, an independent retail consultant who previously occupied a role as director for Africa and international at Food Lover's Market Group. 9 Mar 2018
Change in VAT has retailers scrambling
©stokkete via 123RF
A month before higher value added tax (VAT) rates take effect, retailers are scrambling to adjust their systems and ensure compliance. 5 Mar 2018
Steinhoff: mess began in central Europe
Steinhoff chairwoman Heather Sonn said it appeared that the group's "accounting irregularities" related largely to its central European business. 2 Mar 2018
Walmart shares dive as e-commerce growth slows
©niloo138 via 123RF
NEW YORK, US - Investors pummeled Walmart shares on Tuesday after the retail behemoth reported disappointing fourth-quarter earnings in results that revealed growing pains in its e-commerce buildout. 21 Feb 2018
The Crazy Store expands footprint in Botswana
Six months after opening its first store in Phakalane, discount variety retail chain The Crazy Store has opened its second branch at Game City Shopping Centre in Gaborone. 21 Feb 2018
Now Showing's Space Man pop-up showcases SAMW design talent
In keeping up with its standard for retail innovation and interactive shopping as the new normal, the third instalment of Now Showing has launched with a +Space Man pop-up store. 19 Feb 2018
Pick n Pay Constantia. ©Lauren Hartzenberg
Pick n Pay Constantia. ©Lauren Hartzenberg
The Competition Tribunal has dismissed Massmart's complaint that Shoprite Checkers, Pick n Pay and Spar were taking part in anticompetitive behaviour through exclusive leases with shopping-mall landlords. 14 Feb 2018
Italtile bucks trend as turnover soars
©maxriesgo via 123RF
Italtile saw trading profit leap as turnover soared in the six months to December 2017, despite consumer sentiment in SA being "by and large down". 8 Feb 2018
Steinhoff director spills the beans about accounting irregularities and Jooste's disappearing act
Director and chairman of Steinhoff's audit committee, former ABSA CEO, Steve Booysen on Wednesday recounted the dramatic discovery on 5 December of the alleged accounting irregularities which have rocked the group and led to the resignation of former CEO Markus Jooste. 1 Feb 2018
Image credit: Financial Mail/Jeremy Glyn
Image credit: Financial Mail/Jeremy Glyn
The global retail group Steinhoff is reeling under allegations of accounting fraud. Since the allegations surfaced last year the CEO of the multi-billion dollar business, Markus Jooste, has fallen on his sword and the company's stock has been hammered, at one point losing about 90% in market value in a few days. 31 Jan 2018
H&M recalls socks after shoppers spot 'Allah pattern'
NEWSWATCH: Swedish clothing retailer H&M has recalled a line of children's socks after complaints from shoppers that a pattern on them appeared to resemble the word Allah written in Arabic. 30 Jan 2018
Woolworths CEO Ian Moir. Image credit: Financial Mail
Woolworths CEO Ian Moir. Image credit: Financial Mail
Analysts are divided on whether Woolworths CEO Ian Moir should fall on his sword after the retailer was forced to impair the value of its Australian department store chain, David Jones, by nearly R7bn. 29 Jan 2018
'We were bamboozled,' say Steinhoff directors
Two of the directors of Steinhoff - Sanlam chairman Johan van Zyl and accounting expert Len Konar - say former CEO Markus Jooste "misled" the furniture retailer's board. 29 Jan 2018
Woolworths in R7bn David Jones setback
Woolworths said on Wednesday it had impaired the value of Australian department store chain David Jones by nearly R7bn, or about a 10th of the South African retailer's total market capitalisation. 25 Jan 2018
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