South Africa news

11 November 2013
In two separate announcements, South Africa-based Woolworths highlighted the opportunities and difficulties being faced by retailers looking to expand within Africa. Woolworths plans to exit Nigeria… Without setting a timeframe to complete it by, the retailer’s chief executive, Ian Moir, announced that Woolworths was looking to close its three stores in Nigeria. Woolworths opened its first st...
29 October 2013
South Africa-based Shoprite has announced a trading update covering the first three months of its financial year, saying turnover was up by 10.2%, driven by its operations outside of its home market. South African shoppers ‘under increasing pressure’ Shoprite said that sales in South Africa rose by 8.3%, even though the retailer noted that market conditions had worsened, with shoppers coming ...
23 October 2013
In the first six months of its financial year, South Africa-based Pick n Pay has announced that group turnover rose by 6.2% to ZAR30.1 billion (US$3.1 billion), aided by new stores, its operations outside its home market and surging online sales. Turnaround strategy appearing to bear fruit Pick n Pay has implemented a turnaround strategy in its home market of South Africa in an attempt to lim...
16 October 2013
Massmart’s chief executive, Grant Pattison, said that South Africa’s shoppers were under growing pressure on the sidelines of the Consumer Goods Council of South Africa summit. Slower spending due to a number of reasons Pattison was quoted as saying: “ The pressure on the consumer is increasing and it seems to be related to rising energy inflation and unsecured lending being pulled back .” Th...
16 October 2013
At its annual investors meeting this week, Walmart provided an update on the strategic priorities for its US stores operation, Sam’s Club, international, global e-commerce and the business as a whole. We outline the key takeaways from this important update. Building a unique market-based ecosystem in the US to capitalise on in-fill opportunities Walmart has identified a number of markets i...
08 October 2013
South Africa-based Pick n Pay has launched an app that offers the same solution as that provided through its in-store Smart Shopper kiosks. App builds on existing expertise Discussing the launch, the head of the retailer’s digital team, Georgina Muirhead, said that the app would enable shoppers to ‘ switch points and receive a code to give to the teller to redeem points you have converted to ...
29 August 2013
Woolworths (South Africa) has reported group operating profit up 29.1% for the full year ended June 2013, and confirmed the 23.2% rise in turnover reported at its preliminary announcement in July. Woolworths Food sales grow ahead of market In the second half, despite pressures on South African consumers, group sales continued the strong sales trend begun in the first half. They were ad...
28 August 2013
SPAR South Africa is planning to open a store in Angola in the next six months, with a local partner, according to press reports quoting the group's financial director. Store will open in Angolan capital, Luanda Speaking to Bloomberg, the retailer's finance director Mark Godfrey said SPAR  was working with an unnamed Angolan partner to open a store in the country's capital. He was quoted:...
22 August 2013
Walmart's South African business, Massmart, has released consolidated first half results today, confirming the 8.9% growth in sales revealed in July, and talking about its strategic priorities. Five strategic priorities for next three years Following the completion of an annual review process, Massmart has outlined five priorities for the coming three year period: Adjust future i...
21 August 2013
South Africa's grocery market leader, Shoprite, has reported trading profit growth of 15.6% for the year ended June 2013, above the turnover growth of 12.1% reported in a trading update released on 17 July. Trading profit tops five billion rand for first time Shoprite's trading profit has broken the ZAR5bn mark for the first time in its history. This also boosted trading margin to 5.8...