South Africa news

28 March 2017
South Africa-based Pick n Pay has said that it will invest ZAR500m (US$39.8m) in lowering the prices of more than 1,300 essential products. The investment in prices comes as the economic backdrop in the country remains poor and shoppers cut back on spending. Investment aimed at aiding shoppers Announcing the investment in prices, Pick n Pay highlighted how salary growth, which was running a...
15 March 2017
Botswana-based Choppies has announced first half results saying revenue rose 34% to BWP4.7 bn (US$445.4m), driven by a 37% increase in stores, to 202, and a 36% increase in selling space, to 290,968 sq. m. Performance aided by like-for-like sales growth Like-for-like sales rose 3.0%, which the retailer said was driven solely by an increase in basket size, with footfall remaining flat on the y...
01 March 2017
Steinhoff International has reported positive Poundland results for the three months ended December 2016. Results 'ahead of expectations' According to Steinhoff's latest financial results, the newly-acquired Poundland business performed positively, contributing £448m to the South African conglomerate. In his webcast, Steinhoff CEO Marcus Jooste revealed that this is the first time since  De...
24 February 2017
South Africa-based, Walmart-owned Massmart has said total sales rose 7.7% to ZAR91.3 bn (US$7.1 bn) in 2016, despite a challenging market environment in South Africa and across sub-Saharan Africa more widely. Focus on costs helps underpin profits Massmart said total sales rose 7.7%, aided by comparative store sales growth of 5.4% and product inflation of 6.7%. The retailer suggested that th...
21 February 2017
We review Walmart’s fourth quarter and full year results, and the drivers behind its improved performance. Walmart by the numbers Walmart’s total revenue increased by 1.0% in the fourth quarter to $130.9bn Sales in its US stores and Sam’s Club divisions increasing by 2.8% and 2.3% (ex-fuel) respectively  International net sales were down 5.1%, although increased by 3...
21 February 2017
South Africa-based Shoprite has announced H1 results and confirmed expansion plans the day after talks between it and Steinhoff to create Africa’s biggest retailer collapsed. Turnover rises 14% in H1 Shoprite saw turnover rise 14% in H1 to ZAR71.3 bn (US$5.4 bn), which it said meant it ‘ comfortably outperformed the rest of the South African market ’. The company said revenues were driven b...
18 January 2017
As Zimbabwe-based Meikles says it will cut the number of new stores it plans to add in 2017, new ecommerce and fulfilment solutions are launched in South Africa and Liberia, and Kenya-based Uchumi is reported to have launched a franchise model, we round up news from the region. New ecommerce and fulfilment solutions underline growing demand WumDrop has launched an ‘Uber-inspired’ fulfilment...
18 January 2017
As South Africa-based retailers Massmart, Shoprite and Woolworths publish trading updates, we round up how they have performed. Shoprite enjoys strong growth in H1 Shoprite said that in the 26-week period to 25 December, total sales rose by 14.0% to ZAR71.3 bn (US$5.3 bn), aided by like-for-like growth of 8.6%. The retailer said that it remained pleased by the performance of its operations ...
27 December 2016
With our team of analysts visiting over 20 countries in 2016, we’ve identified the top stores you should visit in the year ahead to see some of the key trends shaping format development in the sector, including: The development of new offers and services Investment in new channels  The re-purposing of space to ensure the future relevancy of existing stores Here’s our first ins...
20 December 2016
As South Africa-based Pick n Pay and Woolworths launch initiatives to improve the in-store shopping experience, Kenya-based Nakumatt and Uchumi face up to differing challenges and SPAR Nigeria launches an programme to support SME’s, we round up news from the region. Pick n Pay launches contactless payment As part of its ongoing programme to improve and modernise the shopping experiences for...