All South Africa articles – Page 4

News

Potential expansion for South African retailer Massmart

2011-06-08T09:51:00Z

South African retailer Massmart is making “good progress” on identifying locations for potential expansion in Nigeria, according to its chief executive Grant Pattison.

News

Clicks Group turnover up 14.7% to £881m

2011-04-01T00:00:00Z

Health and beauty retailer and wholesaler Clicks Group posted a preliminary retail turnover increase of 14.7% year on year to ZAR9.7bn (£881m), and an increase in group turnover of 9% to ZAR13.3bn (£1.2bn) for the first half of its 2010/11 financial year ended February 28.“The results have been driven by ...

News

Massmart H1 like-for-likes jump 7.3%

2011-03-04T00:00:00Z

Retail and wholesale group Massmart - in which a 51% majority stake is expected to be acquired by Walmart by April this year - has announced a 13.3% sales increase for the first half of its current financial year. Sales rose to R27.37bn (£2.4bn) in the period to December 26, ...

News

Woolworths H1 sales up 9.8%

2011-02-24T14:08:00Z

Upmarket food and clothing retailer Woolworths reported group sales grew by 9.8% year-on-year in the first half ended December 26, 2010, along with positive margin development after more effective cost control. Pre-tax profit increased by 22.1% during the period. Food sales grew by 11.8%, while clothing sales were up 11.5%.In ...

News

Woolworths sales increase 9.8%

2011-01-25T00:00:00Z

Food and clothing retailer Woolworths has announced that preliminary group sales increased 9.8% year on year for the 26 weeks to December 26.This compares with sector growth of 5.9% during the same period. Clothing sales grew by 11.5%, 2.3 percentage points higher than the average in comparable stores (9.2%).The retailer ...

Analysis

NRF: Polar opposites

2011-01-21T00:00:00Z

The big topic at this year’s NRF convention was the polarisation of global retail. Joanna Perry reviews the key themes, while on page 24, Rebecca Thomson examines the top technological innovations on show

News

Massmart H2 sales increase 13.3% to £2.5bn

2011-01-21T00:00:00Z

Massmart - the company in which Walmart intends to take a 51% stake before the end of March this year - has announced its preliminary financial results for the six months to the end of December, 2010.Sales increased 13.3% to R27.5bn (£2.5bn). Like-for-like sales jumped 7.3%. The Mass discounters division ...

News

Massmart launches website for extended food offer

2010-12-10T00:00:00Z

In the run-up to its expected acquisition by Walmart, South African retailer Massmart has launched a dedicated website for the extended food offer that has recently been piloted at a Game variety store in Cape Town. The site - at Foodco.co.za - describes Foodco as “a supermarket inside Game that ...

News

Walmart set to acquire 51% of Massmart

2010-12-01T11:59:00Z

Walmart has made a cash offer of R16.5bn (£1.48bn) to buy a controlling 51% of South Africa’s Massmart Holdings, its first foray into the growing retail market in sub-Saharan Africa. Massmart will remain listed in Johannesburg if the deal is completed, it said. “The more we learn about South Africa ...

Analysis

A world of international retail opportunities

2010-10-29T00:00:00Z

Emerging markets globally have retail potential, but could any be the new China? By Tim Danaher

News

Pick n Pay H1 pre-tax profit falls by 25.5% to £61m

2010-10-28T12:44:00Z

The country’s second-largest grocer Pick n Pay reported that its pre-tax profit fell by 25.5% to R682.1m (£61m) in the first half to 31 August, despite sales growth of 6% to R25.2bn (£2.26bn). Chief executive Nick Badminton described the past 12 months as the most challenging the company had faced ...

News

South Africa’s Woolworths brings franchises in-house

2010-09-08T09:19:00Z

Department and food store operator Woolworths has announced its intention to bring all franchise operations in-house in its home market. Woolworths chief executive Simon Susman said: “We have come to the conclusion that it is no longer in the best interests of Woolworths for us to operate a local franchise ...

News

Massmart like-for-likes up 2.6%

2010-09-02T18:23:00Z

Retailer Massmart has published its full-year results to June 27. Group net sales amounted to R47.5bn (£4.2bn), representing growth of 10% year-on-year. Like-for-like sales increased by 2.6%.

News

Shoprite full-year profits up 18.7%

2010-09-02T18:22:00Z

Shoprite has revealed its full-year results to June, saying that group-wide sales increased 13.6% to R67.4bn (£5.9bn). Trading profit was also up 18.7% to R3.5bn (£308.2m).