Retail share valuations are way too high, value-focused fund managers have been warning for well over a year. Paying no heed, the market has continued its love affair with retail in July, with the general retailers and food retailers indices on the JSE hitting new highs. 3 Aug 2012
In a move that will give scale to its lacklustre Australian business‚ Woolworths on Wednesday said Country Road‚ its 88% owned subsidiary, will acquire 40-year old fashion retailer Witchery Group from Gresham Private Equity for A$172m (about R1.5bn). 2 Aug 2012
Retailer Woolworths Holdings (WHL) announced on Wednesday, 1 August 2012, that its indirectly-held subsidiary‚ Country Road‚ has entered into an agreement to acquire the Witchery Group from Gresham Private Equity for A$172m. Witchery is one of Australia's leading fashion brands. 1 Aug 2012
With the entrance of British fast-fashion chain Topshop into SA, the local clothing sector could count on a proliferation of new brands coming into the market, meaning more competition, lower prices and narrower margins, an analyst said yesterday. 31 Jul 2012
Edcon‚ together with House of Busby has been granted the South African franchise rights for Topshop and Topman‚ the UK-based retail chain. 30 Jul 2012
Investec Property is developing a new 25 000m square shopping centre in Mayfield, Daveyton, to be known as Mayfield Square‚ that is significantly larger than any other retail centre in the area according to Darryl Mayers, head of the company's retail division. 25 Jul 2012
Clover Industries (CLR) and the Food & Allied Workers Union (Fawu) have reached a wage settlement‚ ending a six-day strike. 24 Jul 2012
The Reserve Bank has warned that food prices could remain elevated during the remainder of this year due to cost-push pressures arising from higher transport costs‚ electricity and refrigeration costs‚ and wage increases‚ the Reserve Bank said in its annual economic report released on Monday, 23 July 2012. 24 Jul 2012
Retailer Truworths on Friday said it expects both basic earnings and headline earnings per share for the 53-week period ended 1 July 2012 to be between 14% and 17% higher relative to the prior 52-week period ended 26 June 2011. 23 Jul 2012
Growth in SA's retail trade sales at constant prices jumped to 6,4% year-on-year (y/y) after a revised 1,1% [1,0%] growth in April‚ figures released on Wednesday by Statistics SA showed. 19 Jul 2012
Retail sales growth quickened more than expected‚ to 6.4% in May from 1.1% growth in April‚ figures from Statistics SA released on Wednesday, 18 July, showed. 19 Jul 2012
Woolworths Holdings' (WHL) group sales for the 52 weeks to 24 June 2012 increased by 11.8% over the comparable period in 2011. Sales in comparable stores grew by 7.1%‚ the group said on Tuesday, 17 July 2012. 17 Jul 2012
SA's largest supermarket chain, Shoprite Holdings, delivered what analysts called a disappointing trading update yesterday, 16 July, that could indicate that Pick n Pay may have finally arrested declines. 17 Jul 2012
South African retailer‚ Shoprite Holdings on Monday, 16 July, said for the 12 months to June 2012 the group increased total turnover by 14.4% to about R82.7 billion‚ compared to the corresponding 12 months of 2011. Growth on a like-for-like basis was 8.5%. 17 Jul 2012
If proof is needed that a well-executed, innovative idea can still succeed in the harsh world of food retail, Fruit & Veg City provides it in abundance. From a humble start 19 years ago in one store in Kenilworth, Cape Town, the retailer has grown into a company its MD and cofounder, Brian Coppin, says will achieve turnover of R5bn this year. 13 Jul 2012
Topshop, a British multinational retailer specialising in fashion clothing, shoes, make-up and accessories, and Topman, its spin-off brand to cater for men, will open a pop-up shop in Unknown Union, a boutique retailer in Cape Town on 12 July 2012. 10 Jul 2012
Norwood Mall has seen current retailers revamp and the centre get ready for the new 1800sqm Food Lover's Market, which opens in August 2012. 6 Jul 2012
The government needs to do more to protect South Africans from the lure of junk food by making healthier food cheaper and more readily available, say researchers from the University of the Western Cape. 5 Jul 2012
Consumer goods distributor Massmart Holdings on Wednesday, 4 July 2012, said total sales for the 52 weeks to 24 June increased to R61.2 billion‚ representing growth of 15.5% over the prior 52-week period‚ with annual product inflation estimated at 1.8%. Comparable store sales increased by 9.6%. 4 Jul 2012
Consumers seeking to save some money in tough economic times are fuelling the current growth in private label brands, forcing retailers to rethink how they promote their in-house and own-name brands. The conundrum is: do they increase the number of products they offer or only the perceived quality and value of the existing product line-up? 4 Jul 2012
