South African shop closes as books gather dust

South Africa may have produced two Nobel laureates in literature but a famous bookshop in Johannesburg is nevertheless about to close, a victim of the country's poor reading culture. 19 Jan 2012 14:54

The Foschini Group outperforms Truworths

[Zeenat Moorad] Despite coming off a very high base, The Foschini Group on Wednesday, 19 January, reported sales growth of 17.3% for the period 27 November to 31 December 2011. 19 Jan 2012 14:15

Real retail sales drop 0.3% in November

[Helmo Preuss] Real retail sales in SA dropped by 0.3% month-on-month (m/m) in November 2011 as consumers cut back on their earlier exuberant buying. In September real retail sales had surged by 1.5% m/m and jumped by 0.7% m/m in October. 19 Jan 2012 14:03

Edcon appoints new CFO

Clothing, footwear and textiles retailer Edcon on Tuesday, 17 January, announced the appointment of Mark Richard Bower as deputy chief executive and chief financial officer following the resignation of Stephen Robert Binnie. 19 Jan 2012 01:19

Clicks shares down as deflation weighs

[Zeenat Moorad] Shares in health and beauty retail and supply chain Clicks Group (CLS) were down almost 3% on the back of a less-than-stellar sales update. 18 Jan 2012 13:44

Woolworths shares surge to record territory

[Zeenat Moorad] After posting an 11.4% increase in 26-week sales, shares in upmarket retailer Woolworths Holdings (WHL) advanced over 3% to R42.95, hitting an all-time high on Tuesday, 17 January. 18 Jan 2012 13:27

Pnp appoints international retail expert as head of merchandising

International retail professional Helmut Hoerz is joining Pick n Pay for a two-year assignment as head of merchandising, the retail giant announced today, 17 January. Hoerz will also sit on the Group Exco and report to CEO Nick Badminton. 17 Jan 2012 15:12

US retail sales growth to slow in 2012

WASHINGTON, USA: US retail sales growth will slow to 3.4% this year, but still outpace the country's GDP growth, the National Retail Federation said on Monday, 16 January. 17 Jan 2012 14:37

Shoprite turnover up 13.2% to R41.1bn

Shoprite Holdings said on Monday, 16 January, that for the six months ended December 2011 it grew turnover by 13.2% to some R41.1 billion. 17 Jan 2012 14:22

Keep your knickers on... La Senza SA not closing

[Zeenat Moorad] Ending speculation, lingerie chain La Senza SA has confirmed that none of its local stores will face closure. 16 Jan 2012 13:31

Mr Price sales growth 15.9%

Mr Price Group (MPC) has recorded sales growth of 15.9% for the third quarter (Q3 FY2012) over the comparable period in the prior year. 12 Jan 2012 15:13

Massmart sales up 15.2%

Retail group Massmart Holdings (MSM) reported on Wednesday, 11 January, that the group's total sales for the 26 weeks to December 2011 had increased to R31.6 billion, representing growth of 15.2% over the prior 26-week period, with year-to-date inflation estimated at 1.1%. 12 Jan 2012 14:17

Wal-Mart in SA 'good for prices': research

[Zeenat Moorad] Wal-Mart's entry into SA will be good for consumer prices, research has revealed. 10 Jan 2012 14:39

Festive economy bolstered by stokvels and societies

[Tseko Shibambu] According to the National Stokvel Association of South Africa (NASASA), four main categories of stokvels can be identified - basic revolving savings schemes, loan schemes, home loan schemes and shared buying schemes. The main economic spenders around the end of the year are the shared buying scheme members, who use wholesalers and other retailers to purchase in bulk. 10 Jan 2012 14:01