Filed under: Retail
Revenue grows 6% despite tough times
May 19, 2009
By AUDREY D’ANGELO
The passing of the National Credit Act nearly two years ago limited the number of customers who were overextended and many had now paid off earlier debt and were eligible for more credit, Alan Smart, the chief executive of furniture retailer the Lewis Group, said yesterday.
Filed under: Retail
Woolworths Holdings expected full-year earnings a share to rise more than 20 percent, boosted by an asset sale, the food and clothing retailer said yesterday. Earnings growth was boosted by the R380 million it received in cash from the sale of its stake in Woolworths Financial Services to Absa. The group was not yet able to quantify the impact or provide guidance on headline earnings a share due to the significance of the peak winter retail trading season and fluctuating exchange rates. Woolworths rose 0.81 percent to R12.50 yesterday, outperforming the JSE’s mid-cap index. – Reuters
Filed under: Retail
By Lucky Biyase Famous Brands planned to open between 120 and 130 new stores before the end of this financial year and would grab any chance that came along to add to its brands, chief operating officer Kevin Hedderwick said yesterday. “At the moment we are not actively pursuing any new franchise brand but we will grab any opportunity that presents itself.
Filed under: Retail
By SLINDILE KHANYILE
Higher in-store inflation helped Massmart boost sales in the 44 weeks to May 3, but the bulk retailer expected the tough trading conditions to continue in the second and third quarter of this year, chief financial officer Guy Hayward said yesterday.
Bad debts are top concern
May 12, 2009
By Mzwandile Jacks
Job losses and consumer indebtedness remained a concern for JD Group, but the JSE-listed furniture retailer had an increase in sales in March and last month, chief executive David Sussman said yesterday.
Filed under: Retail
By Matt Cowan and Mark Potter
Shops happen. Like viral online ad campaigns, temporary big brand outlets are sneaking up on European streets, filling vacancies opened by the credit crunch and building a buzz that is relatively cheap.
Filed under: Retail
May 6, 2009
By AUDREY D’ANGELO
Supermarket group Spar had lifted market share by 27 percent and anticipated a fall in revenue in the second half of its financial year, chief executive Wayne Hook said yesterday.
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Filed under: Opinion/Analysis
Analysts have commented favourably on New Clicks’ switch in emphasis to pharmaceutical business, the interim results and the outlook for the company.
Mark Ansley of Cadiz said: “Clicks has turned in an exceptional performance and is now operating like a finely tuned engine.”
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Filed under: In Brief
Shares of JD Group, the South African furniture retailer, fell as much as 2.9 percent on Thursday after it said it would post an annual loss because of reorganisation costs. A “once-off charge” of R344 million related to a “tax settlement” and costs associated with its reorganised debt collection system had resulted in earnings before one-time items dropping as much as 110 percent from the six-month period to February last year, it said in a statement to the JSE. The share fell as much R1 to R33, before closing at R34.25. – Bloomberg
Filed under: Retail
By AUDREY D’ANGELO
Business continues to be good for New Clicks Holdings, which last week reported strong trading and financial results for the six months to February, with diluted headline earnings a share up by 18.8 percent to 80.3c.
