Mr Price takes control of its Kenya franchise

Mr Price store at the Junction in Nairobi. file PHOTO | NMG South Africa-based Mr Price Group has taken direct control of its Kenya business after reclaiming its franchise from fashion apparel retailer Deacons East Africa. The two firms on Thursday announced that Mr Price will from April 1 assume the operations of its 11... Continue Reading →

Top franchising trends for 2018

©Ian Allenden via 123RF The franchising industry has steadily shown adaptability to the tough economy by growing the sector 3,6% over the past four years – from contributing an estimated 9,7% to the country’s GDP in 2014 to its recent figure of 13,3%. This trend is expected to continue on the same trajectory in the... Continue Reading →

MySidekick shopping app launches across SA

South African startup MySidekick has launched its free Android-based shopping app across the country, offering users special deals from retailers such as Clicks, Dis-Chem and Volpes. Incubated at the Nedbank Stellenbosch University LaunchLab business incubator, MySidekick has developed an application that provides users with relevant shopping deals and in 2015 secured a R4 million (US$280,000)... Continue Reading →

Clicks targets 900 stores after ace results

On Thursday the retail-led healthcare group posted a 15.4% rise in operating profit to R1.8bn driven by strong health and beauty sales that grew 14.7%. Opening 111 stores, including 80 through the outsourcing agreement with the Netcare Group, bumped up its store footprint to 622. Its pharmacy network was increased to 473. During the 2017... Continue Reading →

Lloyds Pharmacy closes 190 store

Lloyds Pharmacy closes 190 stores, blaming government cuts Reduced funding, higher business rates and the apprenticeship levy created ‘challenging market conditions’ Lloyds Pharmacy has announced it will close nearly 200 stores across England because of changes in government policy, with its parent company also blaming funding cuts and the apprenticeship levy. In an internal letter... Continue Reading →

Deacons plans sale of Mr Price franchise to SA firm

The firm's chief executive, Muchiri Wahome, says the move comes after South Africa-based Mr Price Group Ltd approached Deacons with a proposal to purchase the chain of stores. “The proposed transaction will be subject to various conditions that include requisite approvals from regulatory authorities and the shareholders of Deacons through a shareholders’ meeting to be... Continue Reading →

Mr Price wins in battle against slowdown

“As reported at the year-end results presentation in May 2017, given the current low-growth economy and resultant poor retail environment, the most significant near-term opportunity is to regain lost market share in the two divisions, MRP Apparel and Miladys, which underperformed in the previous financial year,” the group said. The group reported in the trading... Continue Reading →

Shoprite African retail giant eyes Poland, Europe

Shoprite, Africa's largest food retailer, wants to expand to new continents and is eyeing Poland as its gateway to Europe, the Puls Biznesu daily has said, adding its scepticism.Photo: Lars Frantzen/Wikimedia Commons (CC BY-SA 4.0)Shoprite CEO Pieter Engelbrecht, who visited Poland last week and is in talks with two developers, said entering Eastern Europe would... Continue Reading →

Shoprite Profit Rises as South Africa Stores Prove Resilient

Earnings in line with estimates; Sales growth to continue First financial statement after Steinhoff move to buy stake An employee inspects a community notice board inside a Shoprite Holdings Ltd. supermarket in Johannesburg.Photographer: Waldo Swiegers /BloombergShoprite Holdings Ltd. reported full-year earnings in line with analyst estimates as Africa’s largest food retailer boosted market share in... Continue Reading →

After 159 years, ‘Harrods of SA’ shuts shop

JOHANNESBURG - Department store Stuttafords, the 159-year-old “Harrods of South Africa”, is closing down, a victim of a global shift to online retail and a domestic economic slump that has put brands such as Ted Baker and Gap beyond its customers’ reach.Mirroring the fortunes of once-mighty department stores in Europe and the United States, the... Continue Reading →

H&M to open six more stores in SA

The news follows on the group’s interim results, which showed a 32% rise in sales in rand terms in SA. The rise came at the expense of local retailers such as Mr Price and Edcon. "We see a lot of potential in SA," said H&M South African country manager Pär Darj. Three stores will be... Continue Reading →

Edcon shuts stores in bid to save sales

Retail cannibalisation is becoming a significant feature in the domestic market and it is for this reason that Edcon is shutting down stores where it can, says CEO Bernie Brookes. Edcon shuts stores in bid to save salesRetail cannibalisation occurs when a company's new stores steal customers from existing stores. This can reduce overall sales... Continue Reading →

Mall of Africa celebrates 1st birthday

Morné Wilken, CEO of Attacq, explained that Attacq regards the Mall of Africa as one of its most valuable assets in the Attacq property portfolio. “This mall is the realisation of a very significant vision and a long-term business journey. We identified a gap in the market to develop something extraordinary in the Waterfall area... Continue Reading →

Pick n Pay slashes Smart Shopper rewards

According to Moneyweb, as of 30 March cashback points will be earned for every R2 spent at stores, from R1 previously. This effectively halves the cashback rate to customers from 1% to 0.5%.  Business Day reports that according to Pick n Pay management, a key feature of the overhaul would be weekly personalised discounts tailored... Continue Reading →

Busby to shut Nine West and Mango

Head of marketing Leane Adolph said on Wednesday all free-standing stores under both these brands would close by the end of March. "The company regularly reviews the portfolio's performance and relevance to market and decided to move the Mango business into the store-in-store concept within Edgars. Similarly, with Nine West, we will keep a wholesale... Continue Reading →

South Africa’s Product of the Year winners revealed

South Africa's best products, recognised through a market-leading independent consumer survey, were announced at the Product of the Year gala event in Johannesburg last week. South Africa's Product of the Year winners revealedPart of one of the world’s largest consumer-voted awards programmes, this independent consumer survey, conducted by leading global information and measurement company Nielsen,... Continue Reading →

Africa retail giants Steinhoff, Shoprite shelve merger

Shoprite has scrapped plans to merge its South African businesses with Steinhoff's Shoprite has scrapped plans to merge its South African businesses with Steinhoff's South African retail firms Steinhoff International and Shoprite Holdings announced Monday they had scrapped plans to merge their local assets to form the continent's biggest retailer. The plan announced in December... Continue Reading →

Dis-Chem turnover fails to move investors

The trading update is largely upbeat, but investor enthusiasm for the JSE’s retail sector has been tempered  Shares in recently listed healthcare retailer Dis-Chem fell 3.7% on Friday after the release of a trading update for the 22 weeks to end January. The trading update was largely upbeat, but investor enthusiasm for the JSE’s retail... Continue Reading →

New boss vows to overhaul Edcon

The newly appointed chairman of Edcon said the retailer was too important to fail and would be turned around. Gareth Penny, who took up the position on Wednesday, said he was "confident we can continue to make progress in recreating a world-class retailer". New boss vows to overhaul EdconPenny, the former group CEO of De... Continue Reading →

Shoprite profits come roaring in

Despite a tough local market, Shoprite has edged its rivals and its rest of Africa play is going swimmingly  It has been 27 years since Shoprite, then and until recently led by Whitey Basson, took its first tentative steps beyond SA’s borders. The move was greeted by widespread market criticism. Shoprite has, mostly, proven that... Continue Reading →

Woolworths shareholders rebel

Woolworths’ shareholders latched on to two of the most controversial issues in corporate governance when substantial numbers voted against the reappointment of the auditors and also against the remuneration policy at Wednesday’s annual general meeting.  In a move that suggests shareholders are becoming more engaged on the matter, 18.6% of shareholders at the Woolworths AGM... Continue Reading →

South African pharmacy chain Dis-Chem to double in size by 2022November 22, 2016 Written by Georgina Caldwell South African pharmacy chain Dis-Chem to double in size by 2022 Dis-Chem Dis-Chem has vowed to double in size over the next five years, according to a report published by Yahoo. Ivan Saltzman, CEO of the South African... Continue Reading →

Truworths shares dive on downbeat sales update

The fashion retailer cites an increasingly tough retail market. Investors gave the shares of Truworths International a dressing down on Thursday as they fretted about the fashion retailer’s bearish sales update showing that it’s feeling the pinch from South Africa’s tough retail landscape. Truworths’ share price dived by 7.8% during morning trade after it said... Continue Reading →

Africa’s first mega mall in Menlyn Park

Johannesburg - The R2.5 billion invested in the expansion of the Menlyn Park Shopping Mall by majority owner Pareto is expected to result in a further R5bn being invested in shop fittings and other activities, as well as thousands of new permanent job opportunities. Marius Muller, the chief executive Pareto Asset Management, said the rule... Continue Reading →

Starbucks to open at Menlyn Maine

“We are completely humbled by the support we have received since opening our first store in April. This new development gives us an opportunity to bring our iconic coffee to an iconic city with a rich food and coffee culture. We are honoured and excited to bring the Starbucks experience to 'Jacaranda City'," says Carlo... Continue Reading →

South Africa’s Steinhoff buys 23% of Poundland

JOHANNESBURG/LONDON: South Africa's Steinhoff International Holdings NV has bought 23% of Poundland Group Plc and is considering a full cash bid for the British no-frills homeware chain in its latest attempt to expand in Europe. Steinhoff, a $22 billion furniture conglomerate which has lost out in two high profile takeover battles already this year, said... Continue Reading →

Clicks to manage Netcare’s Medicross pharmacies

RETAILER Clicks will takeover managing private hospital group Netcare’s 37 Medicross branded retail pharmacies and its 51 hospital "front shops", the two JSE-listed groups said in a joint-statement on Wednesday. The agreement excludes the dispensing of prescriptions in the Netcare Hospital pharmacies, which remain within Netcare’s hospital operations. Specific employees involved in these areas of... Continue Reading →

Mr Price raises sales amid weak economy

Johannesburg - Mr Price said yesterday that its sales exceeded R20 billion and earnings exceeded R10 a share for the first time since the group’s inception.  Chief executive Stuart Bird said the figure represented an important milestone for the company. “We are very satisfied with these results, particularly after considering the headwinds that we confronted... Continue Reading →

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