Africa – Page 3
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News
Massmart H2 sales increase 13.3% to £2.5bn
Massmart - the company in which Walmart intends to take a 51% stake before the end of March this year - has announced its preliminary financial results for the six months to the end of December, 2010.Sales increased 13.3% to R27.5bn (£2.5bn). Like-for-like sales jumped 7.3%. The Mass discounters division ...
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AnalysisNRF: Polar opposites
The big topic at this year’s NRF convention was the polarisation of global retail. Joanna Perry reviews the key themes, while on page 24, Rebecca Thomson examines the top technological innovations on show
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News
South African Massmart to exit Zimbabwe
South African Massmart - a 51% stake of which is expected to be acquired by Walmart in early 2011 - has announced that it is to exit Zimbabwe, selling its two stores in the country to local grocer OK Zimbabwe.In October this year, Massmart announced that it was likely to ...
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NewsM&S to open first store in Egypt and third in China
Marks & Spencer took a step forward with international expansion yesterday, when its first store in Egypt and third in China were scheduled to open.
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News
Massmart launches website for extended food offer
In the run-up to its expected acquisition by Walmart, South African retailer Massmart has launched a dedicated website for the extended food offer that has recently been piloted at a Game variety store in Cape Town. The site - at Foodco.co.za - describes Foodco as “a supermarket inside Game that ...
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News
Walmart set to acquire 51% of Massmart
Walmart has made a cash offer of R16.5bn (£1.48bn) to buy a controlling 51% of South Africa’s Massmart Holdings, its first foray into the growing retail market in sub-Saharan Africa. Massmart will remain listed in Johannesburg if the deal is completed, it said. “The more we learn about South Africa ...
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News
Fnac to expand into Northern Africa and South America to move sales away from France
PPR-owned electronics retailer Fnac aims to generate half of its sales outside of France by 2015 as it expands in Northern Africa and South America. Chief executive Christophe Cuvillier said: “We’re looking to expand in other countries. The priority internationally is to grow where we already are.”Fnac will open its ...
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AnalysisA world of international retail opportunities
Emerging markets globally have retail potential, but could any be the new China? By Tim Danaher
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News
Pick n Pay H1 pre-tax profit falls by 25.5% to £61m
The country’s second-largest grocer Pick n Pay reported that its pre-tax profit fell by 25.5% to R682.1m (£61m) in the first half to 31 August, despite sales growth of 6% to R25.2bn (£2.26bn). Chief executive Nick Badminton described the past 12 months as the most challenging the company had faced ...
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AnalysisM&S to tap into Egyptian market with Cairo stores
Marks & Spencer has announced it is the latest international retailer to enter the Egyptian market. In the past decade, Egypt has experienced relatively strong economic growth and is a focus for global retailers interested in finding new markets.
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News
Massmart like-for-likes up 2.6%
Retailer Massmart has published its full-year results to June 27. Group net sales amounted to R47.5bn (£4.2bn), representing growth of 10% year-on-year. Like-for-like sales increased by 2.6%.
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News
Shoprite full-year profits up 18.7%
Shoprite has revealed its full-year results to June, saying that group-wide sales increased 13.6% to R67.4bn (£5.9bn). Trading profit was also up 18.7% to R3.5bn (£308.2m).
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News
Massmart to acquire Pupkewitz Megabuild
South Africa-based Massmart has announced the acquisition of Namibian DIY retailer Pupkewitz Megabuild for an undisclosed price. The deal, which is part of Massmart’s ambition to expand further into Africa, has been approved by Namibia’s competition authorities. Pupkewitz Megabuild operates 16 stores, employing 600 staff.
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News
South Africa Woolworths launches own-label range
Woolworths has launched an own-label range called Woolworths Essentials.The range features core products across all food departments, as well as household cleaning products and toiletries. Launched in mid-March, the offer will grow to almost 200 items by the end of May 2010. The products will sell at prices up to ...
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News
Al Hokair to expand in the Middle East
The board of Saudi Arabian retailer Al Hokair has approved an expansion plan that covers Kazakhstan and could eventually include Egypt, Jordan and the United Arab Emirates.The group, which specialises in fashion retailing - including franchises for Inditex and M&S - and foodservice, would not disclose further details, saying only ...
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