Tag: Woolworths

S.Africa’s Woolworths warns annual profits could fall by 70%

JOHANNESBURG (Reuters) - South African retailer Woolworths said on Friday its profits for the 52-weeks to June 28 could plunge by as much as 70% due to the impact of...

How to fix Nigeria’s supply chain challenges

The news of Shoprite’s planned divestment from Nigeria has reignited conversations about the state of Nigeria’s business environment. When South African retailer, Woolworths, announced its exit from Nigeria, the company emphasised duties, high rental costs, and supply chain challenges in Nigeria as major reasons for its exit. Akintunde Sawyerr, Executive Secretary of the Agricultural Fresh Produce Growers and Exporters Association of Nigeria joins CNBC Africa for more.

South Africa’s Woolworths sees annual sales dip as COVID-19 hits

JOHANNESBURG (Reuters) - South African department stores chain Woolworths Holdings flagged a small fall in annual sales after its non-food stores were shut in the second-half of its financial year...

Panic buying forces South African supermarkets to ration food

As the spread of the infection triggers panic buying across the world, South African retailers are saying they are working with their suppliers to ensure a consistent supply of products like meat and canned food, and medicine.

Here’s why people are panic buying and stockpiling on hand sanitiser to cope with coronavirus fears

Panic buying has been rife amid the global spread of the new coronavirus, with consumers around the world stockpiling goods like latex gloves, hand sanitizer, canned foods and toilet paper.

Why this analyst believes market reaction to Woolworths CEO exit speaks volumes

Woolworths share price bounced after CEO Ian Moir announced plans to step down next month. He will be replaced by 56-year-old retail veteran Roy Bagattini. Moir has been heavily criticised for the value destruction caused by the retailer’s Australian operation David Jones. CNBC Africa’s Fifi Peters spoke to the Deputy Chairman of Sasfin Wealth, David Shapiro for more.

Woolworths CEO Ian Moir steps down after nine years at the helm

Woolworths CEO Ian Moir will step down next month. He will be replaced by 56-year-old Roy Bagattini. Moir has been heavily criticised for the value destruction caused...

Woolworths CEO: Why you should look beyond David Jones on results

Woolworth’s struggle continues as the company’s headline earnings were down by 4.6 per cent to 330 cents per share and the groups dividend decreased by 20 per cent.
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