Namibian court okays Wal-Mart's deal
Business Report - Jun 13th 2011, 14:26
Wal-Mart has been given the go-ahead by a Namibian court to implement its $2.4 billion takeover of South African retailer Massmart pending an appeal to have conditions attached to the deal, a newspaper said on Friday.
An appeal by the Namibian competition regulator follows a High Court judgment in April that quashed the regulator's ruling that placed conditions on the deal.
The Namibian newspaper quoted Judge Smuts as saying the April 28 decision that gave Wal-Mart's bid an unconditional nod was valid and could be implemented even as parties wait for the appeal process.
South Africa approved Wal-Mart's $2.4 billion bid for control of Massmart with minimal conditions on Tuesday.
The deal needed competition approval in six countries - South Africa, Tanzania, Malawi, Swaziland, Zambia as well as Namibia.
Massmart profit severely hit by weak sales, losses
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Massmart Holdings' share price declined by more than 17percent on the JSE after the group said it expected to report a decline in earnings across all of its four divisions for the six months to end June, mainly impacted by losses in Massdiscounters.
Retailers rally in support of the Sunflower Day Campaign
29/07/2019 - 11:10
Every year, millions of individuals around the world are diagnosed with cancer. In 2018, just under 1.5 million new cases of blood cancer were recorded worldwide and according to a special report by Discovery Health released in 2018, cancer causes more deaths in South Africa than HIV/ Aids, TB and malaria combined.
Hasbro to start making toys in Vietnam and India as US-China trade war goes on
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Hasbro CFO Deborah Thomas says some retailers briefly paused direct import orders from manufacturing locations in the second quarter as they watched the trade situation.
JIT is key to optimising the FMCG supply chain
23/07/2019 - 19:12
The ability to manufacture ‘just enough’ stock to cover orders and deliver ‘just enough’ product to every retailer is the optimal supply chain scenario in the Fast-Moving Consumer Goods (FMCG) industry. This is known as Just in Time (JIT) manufacturing and delivery.
The Foschini Group - the notable exception in SA
16/07/2019 - 08:23
The Investment Analyst Society recently presented an Analysts Masterclass with an emphasis on the retail and consumer goods sector of the JSE. Much insight was provided by veteran analysts Syd Vianello and Chris Gilmour, featured on the panel discussion. They unpacked several topics like the size and diversity of the sector, the impact of foreign players, consumer behaviour, and retail companies venturing offshore, and notably into Australia, often terminating these ventures in the graveyard.