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Retail News
Up one levelWoolies to use cash for franchise buyout
Johannesburg – It will cost Woolworths Holdings [JSE:WHL] less than R1bn to buy out its South African franchisees – and the company has cash available to fund the buyout, CEO Simon Susman told Fin24.com.
Everfresh and Fruit & Veg City join forces in Kwalzulu-Natal
Everfresh, KwaZulu-Natal’s leading fresh produce retailer and Fruit and Veg City will join forces to give consumers an enhanced retail experience as of 01 September 2010. While the Everfresh stores will trade under the Food Lover’s Market banner, the new franchisees will each remain owners of their respective stores and staff and management of Everfresh will retain their positions in the company.
Rise of social media to change lives, business
Businesses should embrace social networking because it will change the way they interact with consumers, says Gartner.
Testing the waters
On 24 October 2010, the grace period expires The Buzz Word for business is Plain Language as written into the Consumer Protection Act (CPA). Professionals, and legal experts, in all sectors are questioning how it will change their industries.
Tree-preneurs feed families, pay school fees and green the environment
Over 2 500 ‘tree-preneurs’ who plant, grow and sell indigenous trees are developing a regular source of income in areas with little or no access to formal employment, whilst greening the environment.
Mr Price four-month sales up
Retail group Mr Price Group said on Thursday its total sales for the first four months of the financial year ending March 2011 - the 18 weeks to end July 2010 - grew 11.9 percent, while comparable sales grew 8.6 percent.
CPA may alter trading names
One of the obligations of the Consumer Protection Act is that a person providing goods or services to consumers will be allowed to conduct business only under specific names (section 79(1)). A number of scenarios are envisaged by the Act.
Massmart profit takes a beating but food retailer plans to open new stores
Massmart, which has taken a beating from job losses and reduced consumer spending during the economic recession, posted a 7 percent drop in profit for the year to June, the group said yesterday.
Retailers have their say at Retail Business Technology Expo Seminars
Retail Business Technology Expo, the brand new event focusing on business solutions and technology for the retail and hospitality industries, has announced it will be giving retailers the chance to share ideas and strategies at four special seminar streams at its March event.
Massmart FY profit down, sees gradual recovery
Massmart booked a 6 percent fall in full-year profit, hit largely by weak demand in the aftermath of the global recession and said it expects gradual improvement this year.
Profit surge for Woolworths
Johannesburg - Retailer Woolworths Holdings [JSE:WHL] posted a 25% rise in full-year profit, helped by a recovering demand in Africa's biggest economy and said it expects a slow recovery ahead.
Grocery giants tussle over who is biggest
Shoprite said its market share for June had risen to 34,4% this year from 32,9% last year. Over the same time, it said, Pick n Pay’s share had fallen to 31% from 32,9%.
Retailers unfazed by product act
Johannesburg - South Africa's retailing industry said it was prepared for the Consumer Protection Act (CPA), a new law which now holds it liable for products along with manufacturers, importers and distributors.
Shoprite says may need R2.5 bln funding
Shoprite Holdings may need 2.5 billion rand in external finance for its expansion plans, the deputy managing director of South Africa's largest grocer said on Tuesday.
Shoprite beats expectations
Johannesburg - Shoprite Holdings [JSE:SHP], Africa's biggest grocer, booked a 16% rise in full-year profit as its mainstay South African customers warm up to spending due to decades-low interest rates and tentative economic growth.
Massmart profit slump disappoints
Johannesburg - Massmart Holdings [JSE:MSM] said it expects full-year earnings to fall by as much as 9%, disappointing investors who have been betting on a rebound by South African retailers.
Massmart sees lower profit, shares fall
Massmart Holdings said it expects full-year earnings to fall by as much as 9 percent, disappointing investors who have been betting on a rebound by retailers in Africa's top economy.
June retail sales rise but below forecasts
South Africa's retail sales rose for a sixth consecutive month in June, helped by World Cup spending, but the increase was slightly weaker than expected, bolstering the case for a rate cut next month
Food retailers aim for quality organic produce
South African food retailers are taking strides to ensure that their offerings meet the rising consumer preference for organic and locally produced produce.
