Filed under: Retail
January 14, 2009
By Tom Robbins
Cape Town – Shoprite’s first-half turnover powered ahead by 27.3 percent to nearly R30 billion as its positioning at the bottom end of the market continued to help it defy the downturn, analysts said yesterday.
Filed under: Retail
By Tom Robbins
Cape Town – Wellness Warehouse had closed its Johannesburg store on Christmas Eve as a tough consumer market and poor location combined to make it unviable, the big-box health and beauty retailer confirmed yesterday.
Filed under: Retail
By Tom Robbins
Cape Town – Sales at Mr Price were 20.3 percent higher in the quarter to December than a year ago, as the discount fashion retailer benefited from buying down at its core clothing division, but homeware sales struggled, the cash retailer said yesterday.
Filed under: Retail
Sales at US retailers fell a steeper-than-expected 2.7 percent last month after a revised 2.1 percent drop in November. The latest US data show that relentless job cuts last year – the worst since 1945 – forced consumers to cut back on spending during the holiday period. “Bad, ugly and worse,” said Marc Pado at Cantor Fitzgerald, commenting on the retail figures.
By Bloomberg and Sapa-AP
United States job losses mounted on Friday as employers in nearly every sector slashed 40 000 positions.
Circuit City Stores, a speciality retailer, said that it was liquidating, closing all its US stores and cutting 30 000 jobs, while rental car company Hertz Global said it was eliminating 4 000 jobs across the world, as families and business travellers forgo trips.
Filed under: Retail
By Tom Robbins
Cape Town – Truworths maintained its underlying sales performance in its first half to December despite the countrywide contraction in disposable income, the fashion retailer said yesterday.
