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EDCON NEWS ON FASTMOVING

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Footgear quick off the mark with acquisition of Edgars Active and High Key from Edcon

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.  read more
Public Investment Corporation pressured by union to rescue Edcon

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.  read more
Edcon's rescue deal gets thumbs up from competition watchdog

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. read more
Edcon CEO says focus is now on fixing the business

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. read more
Retail fallout linked to need for innovation

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.  read more
Edcon makes headway in securing R3bn in funds to keep it going

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. read more
Debt-laden Edcon in 'rescue' deal

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. read more
Edcon gets some breathing space

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. read more
Retail sector facing subdued operating conditions

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. read more
Relief for Edcon as lenders extend waivers

Relief for Edcon as lenders extend waivers

21/12/2018 - 13:56
Clothing retailer Edcon has been given some breathing room by its lenders as it struggles for survival. The group, which confirmed that it was in talks with its funders and other stakeholders, said its lenders have extended waivers to allow time for the implementation of its restructuring and recapitalisation. read more
Edcon is looking for white-knight investors

Edcon is looking for white-knight investors

21/12/2018 - 08:34
Troubled clothing retailer Edcon confirmed it is in talks with new investors in its efforts to ensure its survival. read more
Edcon chief confirms recapitalisation drive

Edcon chief confirms recapitalisation drive

17/12/2018 - 19:22
South African retailer Edcon confirmed that it is in discussions with stakeholders, including landlords and suppliers, regarding the group’s continued recapitalisation programme. read more
Edcon sticks with old store format in modern retail world

Edcon sticks with old store format in modern retail world

25/07/2018 - 08:54
The struggling retailer is going back to basics as it prepares itself for the biggest battle in its history. read more
Edcon pursues higher-margin local products

Edcon pursues higher-margin local products

10/07/2018 - 07:43
Edcon says its shelves will increasingly be stocked with locally sourced house brands, as the struggling clothing retailer continues to unwind its foreign-brand strategy. read more
Edgars parent to close Boardmans, La Senza and other chains in recovery plan

Edgars parent to close Boardmans, La Senza and other chains in recovery plan

06/07/2018 - 07:39
Edcon Holdings’ latest recovery plan includes closing chains including Red Square cosmetics and La Senza lingerie and attempting to lure their customers to its flagship Edgars clothing stores. read more
Liberty and L2D’s Stuttafords hangover is nearly over — now for Edcon

Liberty and L2D’s Stuttafords hangover is nearly over — now for Edcon

30/05/2018 - 11:59
South African landlords have let most of the space vacated by the defunct department store, and Liberty and L2D are in talks with Edcon, which is ‘rationalising’ its leases. read more
CNA and Edgars get logo and layout facelifts

CNA and Edgars get logo and layout facelifts

20/04/2018 - 08:04
Edcon’s Grant Pattison has been putting together and implementing a turnaround strategy for the group. read more
Edcon considering closing flagship Edgars store

Edcon considering closing flagship Edgars store

10/04/2018 - 08:18
Edcon is considering closing its flagship Edgars store in the Johannesburg central business district (CBD) as part of a turnaround strategy to rescue the ailing retailer. read more
Edcon fails to make the grade

Edcon fails to make the grade

08/03/2018 - 09:27
Unlisted retail group Edcon has recorded a poor quarterly performance with a decline in sales and revenue. read more
Edcon reports profit improvement despite decline in sales

Edcon reports profit improvement despite decline in sales

14/11/2017 - 17:04
Unlisted retail group Edcon reported on Tuesday that its net profit improved by 3.8% to R2bn, although sales declined in the September quarter from the matching period in 2016 read more
Edcon partners with Engen for Thank U rewards programme

Edcon partners with Engen for Thank U rewards programme

03/11/2017 - 11:54
Engen has launched an exciting new partnership with Edcon’s Thank U loyalty programme. read more
Zim currency woes to hit Edgars product range

Zim currency woes to hit Edgars product range

26/09/2017 - 10:51
According to Edcon’s Zimbabwe-based clothing retailer Edgars Stores Limited, prevailing foreign currency shortages in the country will impact its product range. read more
Edcon returns to profit in June quarter

Edcon returns to profit in June quarter

21/08/2017 - 08:36
SA’s largest clothing and footwear retailer Edcon swung into a trading profit in the first quarter of its new financial year despite a deterioration of the operating environment, says CEO Bernie Brookes. read more
Edgars dishes up shopper bait at new in-store café

Edgars dishes up shopper bait at new in-store café

31/07/2017 - 10:46
Edcon's Edgars brand has partnered with Famous Brands to test the waters in quick dining with the launch of a new café concept inside the Edgars store in Eastgate mall in Johannesburg, called MADE. read more
Labour Court lifeline gives retrenched Edcon staff hope

Labour Court lifeline gives retrenched Edcon staff hope

24/07/2017 - 09:41
Edcon's legal battle with more than 1,800 of its former employees is yet another hurdle for the beleaguered retailer after the Labour Court gave the green light for the employees to proceed with a case against the company over a series of retrenchments. read more
Battle of the brands as popular clothing stores shut down in SA

Battle of the brands as popular clothing stores shut down in SA

14/07/2017 - 09:10
All standalone Mango clothing stores and Nine West shoe stores have closed down, while other international groups such as River Island are busy shutting down as well. read more
Retail job cuts loom as spending is squeezed

Retail job cuts loom as spending is squeezed

10/07/2017 - 09:27
As retail and consumer businesses continue to see margins freeze, industry pundits warn that job losses may be on the horizon for what were once the darling stocks of the JSE. read more
Foschini in breach of credit act - NCR

Foschini in breach of credit act - NCR

04/07/2017 - 14:08
The National Credit Regulator (NCR) on Tuesday referred Foschini to the National Consumer Tribunal (NCT) for being in breach of the National Credit Act. read more
Luxury retail sector feeling the pinch

Luxury retail sector feeling the pinch

27/06/2017 - 09:09
Conventional wisdom has had it that luxury retail — including clothes, shoes and accessories — is immune to movements in the economy, especially the downward kind. read more
Big squeeze on malls

Big squeeze on malls

15/06/2017 - 09:40
The demise of Stuttafords and the looming closure of a number of Edcon stores will bite into the earnings of shopping mall owners, who increasingly face rising vacancies and falling rentals. read more
Edcon shuts stores in bid to save sales

Edcon shuts stores in bid to save sales

29/05/2017 - 15:35
Edcon shuts some doors to ward off retail cannibalisation. read more
Grant Pattison to lead Edcon from June

Grant Pattison to lead Edcon from June

26/05/2017 - 15:34
Current CEO Bernie Brookes’s contract, which was to expire in September, has been extended until the end of January 2018. read more
Edcon stuck between rocky loans and a hard trading place

Edcon stuck between rocky loans and a hard trading place

26/05/2017 - 10:10
Credit sales have dwindled to 35% of total sales, down from 51% five years ago — and there is little hope on the horizon as consumers feel the pinch read more
Edcon to fight back over fees

Edcon to fight back over fees

11/05/2017 - 08:53
Consumer tribunal’s ruling a big blow for struggling retailer — but regulator says it will oppose any appeal.  read more
Tribunal finds the club fee charged by Edcon to be unlawful

Tribunal finds the club fee charged by Edcon to be unlawful

03/05/2017 - 12:30
The National Consumer Tribunal handed down judgment against Edcon on Tuesday that the club fee charged by Edcon to its credit customers was unlawful and in contravention of the National Credit Act (NCA). read more
Retailers fall victim to time’s cruelty

Retailers fall victim to time’s cruelty

18/04/2017 - 09:18
Major retailers review their strategies to survive tough trading environment. read more
Moody’s withdrawal of ratings is ‘good news’, says Edcon CEO Bernie Brookes

Moody’s withdrawal of ratings is ‘good news’, says Edcon CEO Bernie Brookes

16/02/2017 - 16:57
Edcon CEO Bernie Brookes says Moody’s agreement to withdraw its ratings of the retailer is good news.  read more
Moody’s withdraws all its ratings on Edcon

Moody’s withdraws all its ratings on Edcon

15/02/2017 - 08:23
Moody’s says Edcon’s capital restructuring will short investors on what the company had initially promised them. read more
Brookes set to keep reins in Edcon drive

Brookes set to keep reins in Edcon drive

10/02/2017 - 09:14
Australian Bernie Brookes must undo the damage done by his predecessors at the retail powerhouse, writes Ann Crotty read more
Edcon smartens up as creditors take over

Edcon smartens up as creditors take over

03/02/2017 - 09:40
Benefits of internal restructuring, focus on consumers, better employment conditions and advances in technology expected to bear fruit in about a year read more
Edcon aims to win hearts and reap rewards in peak season

Edcon aims to win hearts and reap rewards in peak season

24/11/2016 - 09:02
The season, which runs from October to December, is driven by holiday and back-to-school shopping. Edcon has historically generated a third of its annual sales in this quarter.  read more
Edcon returns to profit after Bain cedes control

Edcon returns to profit after Bain cedes control

23/11/2016 - 08:37
Edcon returned to profit in the second quarter after debt repayment costs eased following the exit of US private equity firm Bain Capital, while the retailer cleared unwanted stock to boost sales over the busy festive period. read more
RETAIL: Edcon fashions its buying to suit local textile sector

RETAIL: Edcon fashions its buying to suit local textile sector

11/10/2016 - 08:57
Edcon, SA’s largest clothing retailer that was saved by a bailout deal with creditors, plans to cut back on buying clothing from China and Bangladesh. read more
Edcon’s turnaround plan includes taking on about 2,000 new people

Edcon’s turnaround plan includes taking on about 2,000 new people

06/10/2016 - 11:32
EDCON plans to increase its workforce by almost 7% and slash prices as SA’s largest clothing retailer kick-starts a recovery plan following the exit of US private equity firm Bain Capital Partners. read more
NEWS ANALYSIS: Former Woolworths MD tipped to lead Edcon

NEWS ANALYSIS: Former Woolworths MD tipped to lead Edcon

22/09/2016 - 12:21
FORMER MD of retail at Woolworths Andrew Jennings, has been tipped as a possible contender to head the new Edcon board, which will have the near-impossible task of growing profit in one of the most hostile trading environments in the group’s 86-year history. read more
Executives resign as Edcon embarks on restructuring

Executives resign as Edcon embarks on restructuring

19/07/2016 - 09:16
EDCON announced on Monday that it was bidding farewell to some members of its executive management team, and introducing new ones, amid a restructuring of operations. read more
Edcon in talks to defer $110m coupon payment

Edcon in talks to defer $110m coupon payment

18/04/2016 - 14:22
Edcon is in talks with creditors to defer R1.6bn of interest payments to December to boost its liquidity, it said on Friday (15 April). read more
Edcon to seek bond interest delay until year end

Edcon to seek bond interest delay until year end

13/04/2016 - 08:54
Edcon is asking bondholders to support a deferral in interest payments until the end of the year, according to two people familiar with the matter. read more
Bond holders to tackle Edcon

Bond holders to tackle Edcon

22/03/2016 - 09:13
London - Edcon Holdings’ secured bondholders are readying for debt talks with the South African fashion retailer. read more
Edcon writes off $2.2m in Zim as Jet jumps to rescue - Zimbabwe

Edcon writes off $2.2m in Zim as Jet jumps to rescue - Zimbabwe

18/03/2016 - 10:26
Harare - Edgars, Edcon's unit in Zimbabwe, which also runs Jet stores in the country, said credit sales are improving on the back of declining defaults, despite having to write off US$2.2m for its full year to end-December. read more
Refinancing helps Edcon turn first profit since 2012

Refinancing helps Edcon turn first profit since 2012

29/02/2016 - 08:53
Johannesburg - Leading clothing retailer Edcon said it made its first profit since 2012 after last year’s successful exchange offer aimed at stabilising its balance sheet. read more
Massive job cuts at South Africa’s largest clothing retailer: report

Massive job cuts at South Africa’s largest clothing retailer: report

10/02/2016 - 09:49
South Africa’s largest clothing retailer, Edcon, is set to undergo massive job cuts at its head office in Johannesburg, according to reports. read more
Edcon staff fail in court bid to be reinstated

Edcon staff fail in court bid to be reinstated

25/01/2016 - 11:26
Thousands of workers retrenched by the Edcon group in 2013 and 2014 have had their hopes of reinstatement dashed by the Constitutional Court. read more
Edcon CEO vows to bring back glow

Edcon CEO vows to bring back glow

10/12/2015 - 13:31
Edcon’s new Australian CEO Bernie Brookes promises the faded retail giant’s star will shine brightly again. read more
Edcon secures repayment deal on debt of R7.9bn

Edcon secures repayment deal on debt of R7.9bn

01/12/2015 - 08:25
Edcon said on Monday it had secured a repayment deal on debt of R7.9bn and access R1.85bn to pay down some bonds. read more
Edcon in wrongful fee probe

Edcon in wrongful fee probe

09/11/2015 - 14:19
Johannesburg - Edcon Holdings, the retailer controlled by US private-equity firm Bain Capital Partners, faces a fine and other penalties after a South African regulator found it had breached the National Credit Act.  read more
Constitutional Court to rule on Edcon retrenchment verdict

Constitutional Court to rule on Edcon retrenchment verdict

10/09/2015 - 08:50
The validity of large-scale retrenchments in instances where employers do not comply with labour law has come under the spotlight in a case that could provide final clarity on the contentious issue. read more
Blue Label inks shop deal

Blue Label inks shop deal

20/08/2015 - 10:04
Johannesburg - Additional offerings and new channels to push them through aided Blue Label in recording a 21 percent increase in headline earnings per share for the year to June.  read more
Edcon’s rating cut after missed payment

Edcon’s rating cut after missed payment

06/07/2015 - 10:00
Edcon Holdings had its credit rating cut by Standard & Poor’s (S&P) and Moody’s Investors Service after South Africa’s biggest clothing retailer missed a coupon payment this week and asked investors to take losses on debt.  read more
Edcon warns of forced asset sale

Edcon warns of forced asset sale

01/07/2015 - 11:03
Retailer Edcon is going to be forced to sell some of its assets in order to meet its overwhelming debt obligations.  read more
Edcon aims to sew up debt with capital restructuring

Edcon aims to sew up debt with capital restructuring

29/05/2015 - 14:08
Edcon Holdings has started talks with debt providers with a view to restructuring its crippling debt pile in the face of a slow growth in clothing sales. read more
Edcon considers sale of non-core stores

Edcon considers sale of non-core stores

25/02/2015 - 10:00
Edcon Holdings says it is considering a sale of non-core stores as it struggles under the weight of crippling debt and low apparel retail sales growth. read more
Edcon in battle to up credit sales

Edcon in battle to up credit sales

23/02/2015 - 09:48
Edcon has all but abandoned its attempt to find a second credit provider, and has begun testing its own in-house credit solution in a bid to boost its flagging credit sales.  read more
Woolies finds plenty in David Jones's locker

Woolies finds plenty in David Jones's locker

16/02/2015 - 09:11
"Woolies will never again be the company it was," CEO Ian Moir told analysts at this week's results presentation. "It will be the Woolies of the future and quite a different group." read more
Edcon plans job cuts in cost savings drive

Edcon plans job cuts in cost savings drive

04/02/2015 - 09:37
Edcon plans to slash jobs at its head office to reduce costs, the retailer said on Tuesday, as the debt-burdened company tries to save money to repay bondholders. read more
Edcon bonds signal debt overhaul needed

Edcon bonds signal debt overhaul needed

15/01/2015 - 10:42
Johannesburg - Edcon Holdings bondholders are signalling that the retailer needs a debt overhaul. read more
Retailers urge Eskom to stop weekend cuts

Retailers urge Eskom to stop weekend cuts

08/12/2014 - 10:56
Cape Town - The National Clothing Retail Federation of South Africa has urged Eskom to review its implementation of rotational load shedding over weekends and to engage business more actively in limiting the fallout from the energy crisis. read more
Bain Capital’s Edcon in talks for another SA credit provider

Bain Capital’s Edcon in talks for another SA credit provider

21/11/2014 - 09:57
Edcon, the South African retailer taken private by buyout firm Bain Capital, is in talks to secure a secondary credit provider after the collapse of African Bank Investments (Abil) this year, its CE said on Thursday. read more
Debt noose tightens around Edcon

Debt noose tightens around Edcon

27/10/2014 - 11:16
Edcon’s debt squeeze appears to be getting tighter after ratings agency Moody's placed it "on review for a downgrade". read more
Edcon feeling effects of downgrade

Edcon feeling effects of downgrade

13/10/2014 - 11:57
Bonds of Edcon Holdings, the South African clothing retailer owned by Bain Capital Partners, are feeling the effects of a ratings downgrade and Morgan Stanley note advising traders to short the securities.  read more
Edgars targets $4,7m profit - Zimbabwe

Edgars targets $4,7m profit - Zimbabwe

25/09/2014 - 09:09
Harare - Listed clothing retailer Edgars Stores Limited (Edgars) is targeting a 193 percent growth in profit to $4, 7 million in the 2014 financial year. read more
Zim retail results reflect consumer pain - Zimbabwe

Zim retail results reflect consumer pain - Zimbabwe

22/09/2014 - 13:45
Harare - The Zimbabwean economy has continued to weaken further, at least as measured by results that were released on Thursday by four Zimbabwe Stock Exchange-listed companies. read more
Rivalry fierce, says Edgars Zimbabwe

Rivalry fierce, says Edgars Zimbabwe

18/09/2014 - 13:47
Edgars Zimbabwe’s interim profit had declined by 9.7 percent; hit by the country’s increasingly informal economy, the clothing firm said yesterday.  read more
Boardmans launches e-commerce site

Boardmans launches e-commerce site

11/09/2014 - 10:53
Retail group Edcon has announced that home specialist, Boardmans, has launched online, and follows the launch of other brands in its stable, namely CNA, and Red Square. read more
Edcon still talking to Abil about lending

Edcon still talking to Abil about lending

28/08/2014 - 11:28
Edcon, the owner of Edgars and CNA, remains in talks with African Bank Investments Limited (Abil) to be an alternative credit provider to its customers, even though Abil has been placed under curatorship. read more
Edcon in battle to restore its profit

Edcon in battle to restore its profit

27/08/2014 - 11:20
Johannesburg - Edcon is turning to international brands such as Topshop and Tom Tailor as South Africa’s biggest clothing retailer seeks to restore profit seven years after being acquired in a leveraged buyout.  read more
Edcon reports R6.6bn in quarterly sales

Edcon reports R6.6bn in quarterly sales

25/08/2014 - 10:48
Cape Town - Unlisted retailer Edcon on Thursday posted a 5.7% rise in retail sales to R6.6bn for the quarter ended June 28 2014. read more
Edcon still talking to Abil about lending

Edcon still talking to Abil about lending

22/08/2014 - 15:19
Edcon, the owner of Edgars and CNA, remains in talks with African Bank Investments Limited (Abil) to be an alternative credit provider to its customers, even though Abil has been placed under curatorship. read more
Edcon benefits from strategic changes

Edcon benefits from strategic changes

04/06/2014 - 14:08
Johannesburg - Edcon, Southern Africa’s largest clothing and footwear retailer, has reported results for the 52 weeks ended 29 March 2014. read more
Edcon to sell top UK clothing brand

Edcon to sell top UK clothing brand

19/12/2013 - 10:08
Johannesburg - The country's fashion industry has been set a twitter by the news that one of the biggest and most recognised clothing brands on the British high street will soon be found in South Africa. read more
Edcon And Kobo Bring award winning e-readers To CNA Stores

Edcon And Kobo Bring award winning e-readers To CNA Stores

06/11/2013 - 13:12
Edcon, South Africa’s largest non-food retailer, and Kobo, a global leader in eReading, today announced that Kobo eReaders are now available at 91 CNA stores, one of the largest book and stationary retailers in the country.  read more
Edcon acquires controlling shares in Accessorize, La Senza and Inglot

Edcon acquires controlling shares in Accessorize, La Senza and Inglot

12/09/2013 - 08:32
Johannesburg, 10 September 2013 - Edcon has recently confirmed its acquisition of a controlling stake in the companies which hold the local franchise rights to Accessorize, La Senza and Inglot. The group’s acquisition is in line with Edcon’s current strategy to increase its branded content and introduce new international brands to its offering to the benefit of its customers. read more
Edcon’s revenues rise

Edcon’s revenues rise

05/06/2013 - 07:53
Johannesburg - Unlisted retailer Edcon on Tuesday reported a 3.1% increase in total revenues to R26.7bn for the year ended March 2013‚ while retail sales increased by 2% to R25.2bn. read more
Edcon continues online push. Red Square sets up ecommerce offering

Edcon continues online push. Red Square sets up ecommerce offering

29/05/2013 - 08:34
Retail group Edcon has launched its Red Square brand online, the latest of its stores to head into the realm of e-commerce. read more
Mr Price Expects 20% Surge In Profits

Mr Price Expects 20% Surge In Profits

19/04/2013 - 09:23
Shares of JSE-listed Mr Price gained 3 percent to R118.98 on Wednesday’s early trade after it said figures for the year ended March would be higher than in the previous reporting period. read more
Edcon sees improved trading

Edcon sees improved trading

22/02/2013 - 08:36
Johannesburg - Edcon Holdings said trading at its lower-price units has improved in the past two months after a weak third quarter.  read more
Edcon: 13-week sales decline

Edcon: 13-week sales decline

05/02/2013 - 08:37
Johannesburg - Edcon said fiscal third-quarter sales fell as it refurbished 72 stores and experienced stock delivery delays.  read more
Edcon hampered by IT costs

Edcon hampered by IT costs

28/11/2012 - 11:40
Retailer Edcon, has bemoaned a 14.7% rise in “other operating costs”, primarily due to IT costs which contributed towards an overall loss of R1.012 billion in results from continuing operations in the 26 weeks ended September 2012. read more
Edcon reports a loss

Edcon reports a loss

28/11/2012 - 08:50
Retailer Edcon posted a loss of R1.012 billion from continuing operations in the 26 weeks ended September 2012‚ from a R1.546 billion loss a year ago.  read more
EDCON Store card sale to Absa approved

EDCON Store card sale to Absa approved

25/09/2012 - 08:25
The Competition Tribunal had approved the sale of Edcon’s private label store card portfolio in South Africa to Absa, as well as the long-term strategic relationship agreement with Absa, said on Friday.  read more
Kiehl's opens at Sandton City

Kiehl's opens at Sandton City

17/09/2012 - 09:56
Kiehl’s Since 1851, the iconic New York purveyor of the finest skin, hair and bodycare formulation, has opened its doors to its first store in Africa. The store is in Edgars Sandton City. read more
Edcon maintains first-quarter profit

Edcon maintains first-quarter profit

22/08/2012 - 08:43
Johannesburg - Retailer Edcon said on Thursday it maintained its gross profit in the first quarter (at 0.9%) compared with the same period a year ago‚ but retail sales were behind expectations and costs negatively impacted adjusted EBITDA. read more
Topshop in SA in November

Topshop in SA in November

31/07/2012 - 08:22
Cape Town - Edcon, together with House of Busby has been granted the South African franchise rights for Topshop and Topman, the UK-based retail chain, businesslive reported on Monday. read more
Absa to buy Edcon's store-card business

Absa to buy Edcon's store-card business

11/06/2012 - 15:34
Absa is to acquire the store-card business of Edcon for about R10bn under a long-term deal in which South Africa’s largest retail bank will manage the credit book of the unlisted retailer’s customers.  read more
Clothing retailers mostly looking good

Clothing retailers mostly looking good

07/06/2012 - 09:59
Clothing retailers have beat market expectations in the past year, improving performances and margins through supply chain efficiency, but how sustainable is this growth as consumers come under increased pressure? read more
Edcon lifts revenue

Edcon lifts revenue

07/06/2012 - 09:16
Johannesburg - South African retailer Edcon‚ which delisted from the JSE in 2007‚ on Tuesday reported a 9.0% rise in revenue to R27.3bn for the year to March 31‚ as consumer demand remained resilient and the positive impact of various strategic initiatives gained momentum. read more
Mystery as Edgars chief exits

Mystery as Edgars chief exits

14/05/2012 - 08:19
In a tight-lipped scenario that has developed over the past few days, Business Report has exclusively established that Hugues Witvoet, the chief executive of Edgars Department Stores, has suddenly resigned from the Edcon Group. read more
Edcon mulls debt, JSE listing

Edcon mulls debt, JSE listing

02/03/2012 - 09:23
SA’s biggest clothes retailer, Edcon, may return to the JSE as early as next year as the company seeks to repay debt owed to bondholders by 2014. read more
Edcon aims at new store growth

Edcon aims at new store growth

24/02/2012 - 08:53
SA’s biggest clothing retailer, Edcon, will accelerate space growth this year, chief financial officer Steve Binnie said yesterday, ending a conservative two or three years for the retailer. read more
Edcon launches new loyalty programme

Edcon launches new loyalty programme

21/02/2012 - 09:06
Johannesburg - Clothing, footwear and textiles retailer Edcon on Monday launched its new customer reward programme Thank U across its leading retail brands Edgars, Edgars Active, Red Square, Boardmans, Jet, JetMart, Legit and CNA.  read more