Edcon's retail business has, through recent acquisitions, added top stationery and houseware brands as well as general merchandise to its CFT portfolio. Defined by the target markets served, all retail business is structured under two divisions: Department Stores Division, including Edgars, CNA, Boardmans, Prato, Red Square and Temptations, serving middle and upper-income markets and Discount Division including Jet, Jet Mart, Jet Shoes, Legit and Blacksnow, serving middle to lower income markets. Edcon Financial Services provides credit facilities and financial services products to the Group's over 4 million cardholders.
We have over 20,000 employees who consider us the best retail company to work for. (Deloitte/Financial Mail Best company to work for survey)
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Ackermans, Truworths and Pep lead in customer satisfaction rankings
19/08/2019 - 08:36
Consulta has released its latest South African Customer Satisfaction Index (SA-csi), showing which clothing stores have the highest customer satisfaction ratings.
Footgear quick off the mark with acquisition of Edgars Active and High Key from Edcon
16/07/2019 - 10:19
Footgear – backed by Old Mutual Private Equity (OMPE) announced that it has acquired the Edgars Active and High Key chain stores, divisions of the Edcon Group, and leading retailers of branded sport and lifestyle footwear, clothing and accessories. The transaction remains subject to conditions precedent, including regulatory approvals.
Public Investment Corporation pressured by union to rescue Edcon
28/06/2019 - 10:29
South Africa’s biggest labour union federation Cosatu signaled a "massive fight" with the ANC if state-owned fund manager the Public Investment Corporation failed to rescue the country’s second-largest clothing retailer, Edcon Holdings.
Edcon's rescue deal gets thumbs up from competition watchdog
03/05/2019 - 15:37
Without the deal with its creditors, there would have been a real danger that the retailer, which employs about 40,000 people, 14,000 of whom are full-time, would have gone under. The closure of Edcon would have had far-reaching implications, as its chains account for about 10% retail space in SA, and source much of their clothing from local manufacturers. Given the implications of Edcon shutting its doors, the government has been very supportive of the deal.
Edcon CEO says focus is now on fixing the business
04/03/2019 - 10:02
The R2.7bn deal that clothing retailer Edcon reached with its banks, landlords and the Public Investment Corporation (PIC) will free it up to push through with its survival plan, says CEO Grant Pattison.
Retail fallout linked to need for innovation
25/02/2019 - 12:13
Retailers across the world continue to face strong headwinds. They have suffered a sharp drop in business in recent years, with bankruptcy filings and store closings almost becoming commonplace.
Edcon makes headway in securing R3bn in funds to keep it going
05/02/2019 - 14:25
Edcon Holdings is making progress toward securing R3bn in funding to keep the South African clothing retailer afloat, with the Public Investment Corporation part of the ongoing talks.
Debt-laden Edcon in 'rescue' deal
22/01/2019 - 10:47
Debt-laden Edcon reached a non-binding agreement with unidentified investors to recapitalise and avoid selling some of its business, the Sunday Times citing Chief Executive Grant Pattison.
Edcon gets some breathing space
17/01/2019 - 10:34
Edcon is at a turning point yet again. The retailer — which operates the Edgars, Jet and CNA chain stores — has just wrapped up a deal with 250 stakeholders, including its shareholders and landlords, in a bid to keep its doors open.
Retail sector facing subdued operating conditions
10/01/2019 - 08:44
Despite South Africa exiting the technical recession following growth in the economy in the three months to September, the outlook for the country’s retail sector for 2019 continues to be subdued.