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Major cost cutting at furniture retailer Ellerine could be expected if African Bank Investments Limited (Abil) was successful in its R9.85 billion offer for the firm, Nedcor Securities retail analyst Syd Vianello said last week.

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Woolworths needed to adopt a more aggressive approach to its underperforming consumer finance business to improve profitability, Renaissance Specialist Fund Managers executive director Nothando Ndebele said last week.

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The indicative offer by African Bank Investments Limited (Abil) for retailer Ellerine could offer furniture consumers more competitively priced loans, RMB Asset Management retail analyst Evan Walker said yesterday.

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Chicken Licken would sell a portion of its business to either the public or a black economic empowerment (BEE) partner when it listed on the JSE in about 15 months, managing director George Sombonos said yesterday.

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Ellerine traded below African Bank’s all-stock bid for a second day yesterday on speculation that the bid might be cut after an examination of the company’s books.

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Massmart has taken a positive long-term view of consumer buying power and will forge ahead with store openings over the next three years, despite expectations of a cyclical slowdown in sales growth.

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Profitability fell at Woolworths’ consumer finance business as expenses grew faster than revenue.

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The South African appetite for shopping is showing signs of waning.

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In partnership with the Netcare group, Woolworths launched its first in-store pharmacy this month in the Woolworths Foodmarket at the Lifestyle Centre in Kloof Street, Gardens, Cape Town. The Kloof Street pharmacy is part of a trial which will test the viability of the initiative, and a second pharmacy is scheduled to open shortly.

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