Tag: retail

Nigeria’s e-commerce is growing: How profitable is it?

Is Nigeria’s retail industry growing or shrinking?

Stuttafords – “South Africa’s Harrods” closes its doors after 159 years

Department store Stuttafords, the 159-year-old “Harrods of South Africa”, is closing down, victim of a global shift to online retail and a domestic economic slump that has put brands such…

Why this Ghanaian is among Ghana’s Ten Outstanding Young Persons

Elevate your hustle and redefine your dreams.

South Africa’s Steinhoff reports rise in H1 profit, revenue

TJ Strydom | JOHANNESBURG South Africa-based retail group Steinhoff International reported a 13 percent rise in half-year operating profit and a 48 percent jump in revenue as recent acquisitions buoyed…

You know you’re rich when you buy this — a $379,261 handbag is the most expensive ever sold at auction

Leah Ginsberg | @lginzy Would you rather have a house or a handbag? If you have to choose, you can’t afford the Hermès white Himalaya crocodile diamond Birkin bag that…

South Africa’s Spar Group reports slip in H1 profit

Nqobile Dludla | JOHANNESBURG South African retailer and wholesaler Spar Group on Wednesday reported a small fall in half-year earnings per share after issuing shares to fund foreign acquisitions and…

Mr Price earnings up due to successful retail formula

South Africa’s Mr Price posts first annual profit drop in 16 years

JOHANNESBURG (Reuters) – South Africa’s Mr Price Group Ltd posted a 12 percent drop in full-year earnings, the first drop in annual profit since 2001, as consumers struggle in a…

South Africa’s TFG buys Australian menswear retailer

South African retailer The Foschini Group (TFG) has agreed to buy Australia’s Retail Apparel Group (RAG) for a maximum of 302.5 million Australian dollars ($226.78 million), the company said on Thursday.

Botswana’s Choppies to spend $55 million on expansion plan

Botswana budget retailer Choppies Enterprises plans to spend 570 million pula ($55 million) to open more stores in Africa in the next 15 months, its chief executive said on Tuesday….

South Africa's Steinhoff Q1 sales up 45 pct

Steinhoff said sales totaled 5.3 billion euros ($5.61 billion)in the quarter ended December.

S.Africa's Massmart reports 16 pct jump in FY profit

Food and liquor sales increased by 11.7 percent, outpacing general merchandise sales growth of 1.5 percent, Massmart said.

Kenya moves up a notch in ease of doing business ranking

South Africa's Mr Price posts drop in Q3 sales on clothing markdowns

The difficult trading environment has extended into the second half of the year, Mr Price said in a statement.

S.A's petrol price to rise by 3.6 percent next week

South Africa's petrol price to rise by 4 percent next week

The price of 93 octane petrol will be 50 cents higher at 13.09 rand per litre, with the 95 octane also up 48 cents.

Steinhoff announces 12.5% increase in operating profit

While 61% of group revenue is earned in Europe and the United Kingdom, 32% of revenue is earned in Africa, mostly in South Africa.

Shoprite Group's Whitey Basson retires

Basson said: “I have been privileged to lead the Shoprite Group from small beginnings to one of the continent's greatest companies."

Retailers have a role in transforming S.A’s economy – Pick n Pay

For a business like Pick n Pay, these challenges are more than just numbers. Stagnant GDP growth means fewer people benefiting.

S.A public given a platform to voice concerns on retail sector

South Africa's July retail sales growth slows to 0.8 percent y/y

On a month-on-month basis, sales fell by 0.4 percent, and were up 2 percent in the three months to July compared with the same period last year, Statistics South Africa said.

Kenyan retailer Uchumi secures cash injection

The government, which holds a 15 percent stake in the company, approved the cash injection at a cabinet meeting last Thursday.

Retailing in South Africa: Do customer loyalty programs really work?

South African retailers suffer from increasingly undifferentiated offerings and low switching costs between retailers.

Africa to get state-of-art HIV drugs for $75 per patient a year

Anti-Zuma MP quits South Africa’s “corrupt” ANC

S.African c.bank defies expectations by keeping rates at 6.75%

Kenyan president says Supreme Court election ruling was ‘coup’

SARB‘s Lesetja Kganyago responds to the KPMG saga

SARB keeps repo rate unchanged at 6.75%

49th African Airlines Association Annual General Summit set for November

Kenya’s 10-year treasury yields rise