Nintendo shares jump on imminent launch of Switch Lite
Reuters - Jul 16th, 11:38
Shares in Japan’s Nintendo Co rose more than 4 percent last week after the company said it would soon launch Nintendo Switch Lite, a cheaper, handheld version of its hugely popular Switch games.
The Kyoto-based company said the new device would launch on Sept. 20 at a suggested retail price of 19,980 yen, or $199.99, compared with $299 for the Nintendo Switch.
Nintendo shares had risen on media reports earlier this year of a low-cost version of the Switch console, only to be battered after management appeared to dampen such speculation over the past few months.
In mid-morning trade, Nintendo's shares were up 3.6 percent, while the benchmark Nikkei average .N225 was flat.
“A lower-priced version should stimulate demand,” Jefferies analyst Atul Goyal wrote in a note to clients.
He said the new device directly targets the 75 million owners of Nintendo’s 3DS hand-held device, and that “this lower-priced version should add fuel to fire as this price-point directly targets those” owners.
Truworths profit at nine-year low as profit plunges over 70%
16/08/2019 - 11:52
Shares in Truworths slumped to a nine-year low on Friday morning after the fashion retailer reported a 74% slide in profits amid difficult trading environments in SA and the UK.
UnionPay cards - the largest card scheme in the world - now accepted at all Pick n Pay stores across SA
16/08/2019 - 11:11
UnionPay International (UPI) has announced significant progress in the South African retail payments market through their co-operation with Pick n Pay and Absa Bank. Through a tripartite co-operation agreement, Pick n Pay, a major food, clothing, and general merchandise retailer, is now enabled to accept UnionPay cards at all of its till points across its approximately 1,800 stores countrywide.
With banana leaf lamps, H&M backs firms promising social change
15/08/2019 - 10:31
With lampshades made by Indian women and trays from East Africa, H&M said that it had become the latest retail giant to back businesses with a mission to do good, as pressure mounts to end throwaway consumerism.
Kit Kat goes solar at Benoni Cash & Carry site
15/08/2019 - 09:11
In a bid to reduce its carbon footprint, mitigate load shedding and become less reliant on the national grid, the Kit Kat group has completed a solar power installation at its Benoni Cash & Carry store.
Choppies to exit SA market, chair to step down
15/08/2019 - 09:03
Botswana-based grocery retailer, Choppies, has announced that it will be exiting the South African market, four years after expanding into the country.