Cashbuild had managed to reverse declining volume sales after it “took corrective action” on core product lines, particularly cement and bricks, the chief executive, Pat Goldrick, said yesterday.
New Clicks yesterday reported resilient sales growth in defensive lines such as drugs and beauty, but CD sales hit a wall after Bok van Blerk did not repeat his De la Rey hit of last summer.
Fitch was ”concerned” customer bad debts at Woolworths had deteriorated further in the three months to February, the ratings agency said yesterday, but nevertheless it affirmed the retailer’s credit rating.
Credit retailers that have previously done deals with banks include:
Woolworths was selling a controlling stake in its consumer finance business to Absa for R875 million, the retailer confirmed yesterday.
Woolworths came out with some good news yesterday, announcing the sale of a controlling interest in its financial services business to Absa.
April 17, 2008
By Tom Robbins
Cape Town - Retail sales unexpectedly increased by 2.5 percent in real terms in February, the second month in a row of rises, after declines in November and December, Statistics SA said yesterday.
Tesco delivered a record £2.8 billion (R43.4 billion) annual profit and had made a strong start to its new financial year, driving up its shares, the world’s third-biggest food retailer said yesterday.
Banking shares extended their declines yesterday after the central bank raised the repo rate by half a percentage point, the fifth increase in 10 months.
