Filed under: Retail
August 22, 2008
Woolworths workers marched through Johannesburg yesterday to demand union recognition.
The SA Commercial, Catering and Allied Workers’ Union (Saccawu) embarked on the protest “after a drawn out and unresolved organisational rights dispute”.
Zyda Rylands, the chief operating officer of support services at Woolworths, said the effect of the industrial action had been “minimal”.
She said Woolworths respected the rights of its workers but it would recognise only unions with sufficient representation.
“From our perspective, they [Saccawu] have less than 15 percent and we don’t believe that to be sufficient.” – Sapa
Filed under: Local Company News
August 22, 2008
Massmart Holdings posted a 23 percent rise in full-year headline earnings per share (EPS) yesterday and said it was confident of performing well, despite difficult economies.
Filed under: Retail
August 22, 2008
Woolworths posted a 6.4 percent decrease in second-half profit as higher interest rates stifled consumer spending and bad debts increased.
Filed under: Retail
Retailers Woolworths and Truworths forecast a tough year ahead as borrowing costs curbed spending and inflated bad debts, while Massmart said its low-cost stores had helped it weather the downturn.
Filed under: Local News
While the recent build-up of debt in South African households is alarming, there is no way of knowing how much worse it will get.
Filed under: Retail
August 22, 2008
By Roy Cokayne
Pretoria – Income from turnover clauses in leases held by Hyprop, the listed retail property fund, declined by about 5 percent in the six months to June and is expected to worsen further next year.
Filed under: Opinion/Analysis
Massmart, the diversified retailer that sells everything from microwaves to bulk rice packs, has again benefited from what in the boom was considered to be its least attractive business: food wholesaling.
Filed under: Retail
