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EDGARS NEWS ON FASTMOVING

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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
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
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
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
Annual retail report reveals most customer centric retailers in SA

Annual retail report reveals most customer centric retailers in SA

20/02/2018 - 08:50
With economic conditions in South Africa likely to remain weak, the apparel retail industry growth forecast for 2018 is muted. In addition, the entrance of international brands has added further challenge for local incumbents. 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
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
Edgars opens first ever Kelso store

Edgars opens first ever Kelso store

31/10/2016 - 15:31
The Edcon Group opened its first ever standalone Kelso store at the Tyger Valley Shopping Centre in Cape Town on the weekend... read more
Cornubia Shopping Mall to open next September

Cornubia Shopping Mall to open next September

15/09/2016 - 09:19
Cornubia Shopping Mall, currently being developed on the north coastal development corridor of Durban, is set to open in September 2017. The 85,000m² mall is rising from the old cane fields alongside the M41 at Flanders Road. 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 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
Truworths sales up but clothing retailers suffer - Zimbabwe

Truworths sales up but clothing retailers suffer - Zimbabwe

10/03/2016 - 11:28
Harare - Job losses and delayed pay dates in Zimbabwe are worsening trading conditions for credit-based clothing and apparel retailers, with the Zimbabwean unit of Truworths [JSE:TRU] saying on Wednesday (9 March) that consumer incomes have come under threat. 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 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
Edcon sales fall as credit purchases continue slide

Edcon sales fall as credit purchases continue slide

07/08/2015 - 09:39
Johannesburg - Edcon Holdings, South Africa’s largest clothing retailer, said first-quarter sales slowed as falling credit purchases weighed on trading. 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 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
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
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
SA consumers vote Edgars as icon brand

SA consumers vote Edgars as icon brand

31/07/2014 - 15:14
Johannesburg - Edgars has been appointed winner in a number of categories in 2014’s Target Group International (TGI) Icon Brand Survey - the largest consumer survey of its kind in Africa. read more
Reject clothes find favour

Reject clothes find favour

30/07/2014 - 11:42
There is a growing market for distressed merchandise as consumers continue to shop down because of economic challenges.  read more
High import duty fuelling smuggling

High import duty fuelling smuggling

27/06/2014 - 15:00
Harare - Zimbabwe Revenue Authority (Zimra) is proposing to lower import duty on finished clothes to reduce smuggling and increase tax collection. 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
New shopping mall opens in Botswana

New shopping mall opens in Botswana

08/01/2014 - 10:59
The mall, situated along the A1 road in Botswana, will house amongst other shops, Edgars, JB Sports, Jet, pharmacies, Choppies Supermarket and food outlets which would include Nandos and Wimpy. read more
Namibia: First stores open at Keetmans Mall

Namibia: First stores open at Keetmans Mall

02/12/2013 - 09:49
Hundreds of shoppers flocked to the Keetmanshoop Old Mutual Retail Centre last month after Crazy Stores became the first outlet to open its doors to the public with Fashion Express and Exact following suit.  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
Botswana: Textile sector teeters on the brink

Botswana: Textile sector teeters on the brink

06/05/2013 - 09:50
The future of about 4,000 workers in the country's textile sector is uncertain as firms report that local and export orders for June and beyond have dried up.  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
Nambia: Construction starts on the Old Mutual Keetmanshoop Retail Centre

Nambia: Construction starts on the Old Mutual Keetmanshoop Retail Centre

18/01/2013 - 09:34
His Excellency, President Hifikepunye Pohamba, on 26 October 2012 laid the foundation for the N$92 million Keetmanshoop Retail Centre, which is being developed by financial services giant Old Mutual. 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
Top retailers show mega confidence in Mall of the North

Top retailers show mega confidence in Mall of the North

20/07/2012 - 09:08
Major local and international leading retail names have expressed confidence that Mall of the North, will be a significant driver for their growth adding more shopping variety to the region's super shopping centre in Polokwane, Limpopo.  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
New mall for Protea Glen, Johannesburg

New mall for Protea Glen, Johannesburg

02/04/2012 - 09:38
Taking a taxi to go shopping some distance away from their homes will be a thing of the past for the community of Protea Glen, as a huge new mall with almost all major retailers is to open on 27 September.  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
Edcon sales up; expansion on the cards

Edcon sales up; expansion on the cards

01/12/2011 - 09:03
In an effort to accelerate growth, SA's biggest clothing retailer, Edcon will embark on an aggressive expansion plan, which will see trading space inch up 4% in the fiscal year ahead.  read more
Credit-shy Edcon posts solid results

Credit-shy Edcon posts solid results

07/06/2011 - 10:30
Edcon, the owner of Edgars, Jet and CNA, will continue to be conservative in its credit granting policy, unlike competitors who have become, in a low interest rate environment, more aggressive in pushing credit. read more