Massmart shares fall over 3%
Johannesburg – Shares of South African retailer Massmart tumbled more than 3 percent on Monday, after the Walmart unit warned it may fall short of its profit target this year, squeezed by weak consumer spending. Massmart, the country’s number two retailer by value, said sales increased 10.3 percent in the 14 weeks end – March, [...]
Walmart has several acquisition options
Holding $7.33 billion in cash at the end of fiscal 2013, Walmart has many options on how to expand its global reach through acquisitions in Turkey, Colombia and other nations. And while officials with Bentonville – based Walmart Stores have said those two emerging markets are its radar, analysts with Kantar Retail say any acquisition, [...]
Restoring Dell to its former glory
Michael Dell once gave up day-to-day control of the computer company that bears his name – and everything began to go south. Now the billionaire is cementing his grip over the firm to try to restore it to its former glory. The billionaire roped in private equity house Silver Lake and Microsoft Corp, to take [...]
Walmart bribes ‘went via Mexican governor’
WalMart’s Mexican unit used a current state governor there to facilitate $156 000 (R1.4 million) in bribes meant to help open stores, an ex-lawyer for the retailer told company officials in 2005, according to documents released by members of the US Congress. The payments were negotiated by Graco Ramírez Garrido Abreu, who at the time [...]
Cipla to push India to raise bid
Johannesburg/Mumbai – Drug company Cipla Medpro South Africa [JSE:CMP] is expected to demand more than the $215m on offer from Indian suitor Cipla Ltd to reflect a lucrative government contract win that will increase its earnings power. But the board of South Africa’s No. 3 drug company should tread carefully in raising the stakes in [...]
LG hit by waning TV sales
LG Electronics Inc fell short of consensus forecasts in quarterly earnings on Wednesday, with profits in its TV division tumbling to around one tenth of year-earlier levels as the world’s No.2 TV maker bumped up promotional spending in the year-end holiday season. LG is set to face a challenging year with forecasts from research firm [...]
US Study: Half of consumers to buy luxury items in next six months
New York — Survey results released Tuesday by Accenture found that half of U.S. consumers are likely to make a small luxury purchase in the next six months, including 53% who are likely to purchase specialty food or drinks, 48% to purchase luxury clothing and 48% to purchase luxury personal care products. According to the [...]
US: Retail employees rebel against early Black Fridays
Retailers with plans to open their doors Thanksgiving night instead of waiting until Black Friday officially begins at midnight or the next morning are facing increasing criticism from employees upset at not being able to spend the holiday with their families. For the second year in a row, employees of retailers including Target, Walmart and [...]
Emerging Market Immersion Experience: Cape Town 6th September 2012
Understanding the emerging market is vital for every company in South Africa. With POPAI you can gain first hand experience of the reality, with expert commentary explaining the key factors in this vibrant and rapidly changing world. Much is known about the emerging market. POPAI gives invaluable insight into the less well known area of [...]
Innovation essential for retail manufacturer survival
Sustaining customer interest and loyalty in the current market is difficult and, while retailers have the option of offering sales and products at discount prices, what do manufacturers do? Doing the same old thing, the same old way just isn’t going to cut it in a market where consumers are already squeezed and looking for [...]
Proud Corporate Sponsor
Proudly sponsored by ZaPOP
