The odd lot offer to Clicks shareholders that held less than 100 ordinary shares in Clicks on Friday had been implemented, JSE-listed New Clicks advised shareholders yesterday. The total number of ordinary shares relating to those odd lot holders who had elected to sell or were to deemed to have sold their odd lot holdings was 5 674. These shares cost R17.41 apiece for a total consideration of R98 784. These shares would be delisted and restored to authorised but unissued share capital. The total number of ordinary shares held by odd lot holders that had elected to retain their holdings was 2 658. – Florence de Vries
June 30, 2009
By Florence de Vries
Demand for AVI’s premium footwear brands fell as consumers reduced spending, but the consumer goods group expects to lift headline earnings a share by between 5 percent and 10 percent for the year to June.
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Filed under: Retail
June 30, 2009
By Florence de Vries and Reuters
Retailers Pick n Pay, Massmart, Woolworths, Shoprite and Spar have welcomed the competition commission’s decision yesterday to investigate possible antitrust breaches.
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Ukrainian retail sales plunged this year as wages fell and the economy shrank. Sales fell an annual 15.3 percent from a year earlier, the state statistics committee reported yesterday. Ukraine’s economy grew at an average 7 percent between 2001 and 2008, but it shrank 8 percent in the fourth quarter of last year. Gross domestic product shrank an annual 21.1 percent in the first quarter. – Bloomberg
By Lucky Biyase
In 2005 a barely-out-of-teens Rozanne Immerman won a year’s free rent space at the Gateway shopping mall in Durban after she entered a fashion design competition.
This is how Immerman, now 25, was catapulted into business. She says: “I had no retail experience, so I had to learn fast.”
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By Florence de Vries
Sales of durable and semi-durable goods kept falling at an alarming pace in April, according to data released by Statistics SA yesterday, as financial strain on consumers intensified.
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Filed under: Retail
By Florence de Vries
The Competition Commission’s probe into the practices of five listed supermarket groups will alter their corporate behaviour because they have been flagrantly doing what they want, with no regard for the consequences.
This is the view of Iraj Abedian, the chief economist at Pan-African Investment and Research, who said the retailers appeared convinced that the commission did not have the teeth to take them to task.
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BHP Billiton had agreed to supply Hulamin with raw materials until December next year, after the mining company warned that a local smelter might be unviable, Hulamin said yesterday. BHP Billiton would supply extrusion billet until September and rolling slab until December next year. Hulamin was studying how to ensure future needs and maintain growth plans. About half of its extrusion billet and 30 percent of its rolling slab were supplied from BHP Billiton’s Bayside plant. – Bloomberg
Filed under: Retail
The competition commission’s recently announced investigation into supermarkets was not about price-fixing, Woolworths chief executive Simon Susman said on Tuesday.
The probe was about “testing pro-competitive and anti-competitive effects of certain practices”.
On Monday the commission initiated an investigation into supermarket chains for possible breaches of the Competition Act.
The investigation was prompted by the concerns of stakeholders and the public. – Sapa
Filed under: Local News
One of the biggest problems facing King Consolidated Holdings (Kingco) is the lack of a South African pub culture. So says one retail analyst, who believes the group should consider delisting from the JSE.
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