Mystery as Edgars chief exits
In a tight-lipped scenario that has developed over the past few days, Business Report has exclusively established that Hugues Witvoet, the chief executive of Edgars Department Stores, has suddenly resigned from the Edcon Group. Edgars Department Stores is Edcon’s flagship unit, operating store banners such as Red Square, Edgars and Boardmans. The division will now [...]
Shoprite to raise $1bn for expansion
Johannesburg – South African supermarket chain Shoprite Holdings [JSE:SHP] said it will raise up to $1bn by issuing new shares and convertible bonds to strengthen its balance sheet and help fund potential acquisitions. Shoprite, which has been ramping up operations in African countries beyond its home market, said in a statement it plans to issue [...]
Edcon launches new loyalty programme
Johannesburg – Clothing, footwear and textiles retailer Edcon on Monday launched its new customer reward programme Thank U across its leading retail brands Edgars, Edgars Active, Red Square, Boardmans, Jet, JetMart, Legit and CNA. The new reward programme builds on current successful reward initiatives run across the group, such as the existing Club programmes, but [...]
Revlon SA goes to Euro RSCG SA
Hot on the heels of winning the Peermont Hotels, Casinos and Resorts account, Euro RSCG South Africa announced today, Wednesday, 10 August 2011, that Revlon South Africa is its latest key client. This encompasses a number of areas of Revlon’s business, including Revlon’s High Perfume, Mitchum, ColorSilk, 24 Seven, Flex, Aquamarine and Cutex. The pitch [...]
Tesco to trial smaller U.S. stores
Tesco , the world’s No.3 retailer, will test a handful of smaller convenience stores in the United States as it searches for ways to stem losses at its Fresh & Easy chain. The British supermarket group said on Wednesday the new stores, to be called Fresh & Easy Express, would be around 3,000 square feet [...]
Walmart/Massmart merger poses a risk to SA – Government
The merger, as it stood, threatened to cause a decline in local manufacturing and production, it said in a statement issued by Trade and Industry Minister Rob Davies, Agriculture and Forestry Minister Tina Joemat Pettersson and Economic Development Minister Ebrahim Patel. The three ministers filed papers with the Competition Appeal Court last month seeking to [...]
2011 Biggest Global Retail Companies in South Africa – Largest African Retailers
Considering the lack of globalization, South African retail companies, particularly their food retailers, are large in comparison to other retailers around the world. Between the release of the Global Powers of Retailing 2010 report and the 2011 report, Shoprite Holdings rocketed from a global ranking of 130 into the 95th position. That would be impressive [...]
Public interest unclear in Walmart case
Everyone, it seems, has a view on Walmart. The views vary between the belief that Walmart’s arrival in South Africa is good news as it will bring low prices to consumers, and the opposing view that the cost of those low prices will be the destruction of South Africa’s manufacturing capacity, as well as the [...]
What Walmart’s presence will do to the retail supply chain in South Africa
The real impact of the Walmart acquisition of Massmart, and its new business model, will be on supply chain costs. The recent publication of the Barloworld Logistics’ sponsored Supplychainforesight research study produced an intriguing view of the FMCG/Retail industry’s supply chain. This independent study samples the opinions on supply chain strategy of hundreds of senior [...]
Rand Tad stronger as markets await US Data
The rand was a tad stronger against the dollar in morning trade on Friday as markets awaited US data due this afternoon. “The rand is steady against the dollar and until the non-farms payroll data comes out of the US, we see it trading in a rage of 6.87 to 6.97,” a local currency dealer [...]
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