Filed under: International News
By Dhara Ranasinghe in Singapore
Shopping is a national obsession in Singapore, yet this Lunar New Year retailers are struggling to get the city’s insatiable shoppers to part with their cash as a cloud of economic gloom hangs over Asia.
Filed under: International News
But instead of this Afrikaner selling bricks and mortar in squatter camps and former homelands, an Irishman by the name of Pat Goldrick is keeping the tills pumping at Cashbuild. (more…) |
By Tom Robbins in Cape Town
Building materials retailer Cashbuild surprised the market with buoyant sales figures yesterday, but commentators said the global downturn would catch up with the lower end of the market, which has been resilient up to now.
South Africa, like many other emerging markets, is not in recession, although growth is slowing.
However, Standard Bank said the retail sector was “clearly in recession” and pointed to declines in sales in nine out of the past 12 months. In October, sales shrank by 2.3 percent year on year.
Filed under: Retail
Despite disappointment at lacklustre units, New Clicks group sales shine
January 21, 2009
By Tom Robbins
Cape Town: Gaming software sales were “slower” at Musica as the contraction in discretionary consumer spending eventually hit the trendy end of the electronics category, owner New Clicks said yesterday.
Filed under: International News
By Mark Potter and Eva Kuehnen
London and Frankfurt: Three major European retailers unveiled plans to cut costs and investment yesterday as they battle to protect profits in the economic downturn.
(more…)
Filed under: Retail
January 22, 2009
By Tom Robbins
Cape Town – Lewis retail sales for last month rose an encouraging 5 percent compared to a year ago, outpacing a flat performance in the previous nine months, the lower-income furniture retailer said yesterday.
Filed under: Local Company News
Investors to cling to shares Food retailers grow profits
January 22, 2009
By Tom Robbins
Cape Town – Supermarket groups would lose some of their shine as food inflation came down this year, but nervous investors were expected to hold on to their shares in grocers because of the earnings certainty they provided, analysts said this week.
