South Africa news

18 February 2016
We highlight the four key takeaways from Walmart’s latest results  as the business heads into its new financial year. 1. Expectations for 2016 have been re-set Having previously announced expected sales growth of 3-4% in this new financial year, Walmart now expects growth to be flat on a constant currency basis. The primary drivers of this change are the recently announced store closures ...
18 February 2016
We review Walmart’s performance as it reports its fourth quarter and full year results. The headlines Walmart's total revenue fell by 1.4% in the fourth quarter to $129.7bn, with the performance impacted by foreign currency On a constant currency basis, total revenue increased by 2.2% Consolidated net income attributable to Walmart fell by 7.9% to $4.6bn For the full year, tota...
15 February 2016
South Africa-based Woolworths Holdings has announced its first half results, with its chief executive discussing the potential for it to target a ‘gap’ in the Australian food market. Group sales rise 17.1% Announcing a trading update for the first half of its financial year, Woolworths (SA) said group sales rose by 17.1%, while excluding the effect of the purchase of Australia-based David J...
15 February 2016
Walmart has shifted responsibility for its operations in India and Africa into a broader emerging markets group. Enrique Ostale taking responsibility for LatAm, India and Africa Having previously aligned its international operations along geographic lines, with three regional presidents for Latin America, Asia and EMEA and Canada respectively, the retailer has now created a new emerging m...
12 February 2016
As Nakumatt looks to grow its presence outside of Kenya, its local rival, Tuskys, announces plans to launch a grocery ecommerce solution for shoppers and Zimbabwe-based Meikles says it is to continue to its expansion, we round news from the region. SPAR Group sees sales rise by 14.1% South Africa-based SPAR Group provided a sales update saying that sales rose 14.1% to ZAR28.0 bn (US$1.8 bn)...
04 February 2016
As the CEO of CFAO Retail, Carrefour’s franchisee for countries in West and Central Africa, discusses the retailer’s expansion strategy, Pick n Pay partners to help shoppers save and Botswana-based Sefalana announces first half results, we round up news from the region. CFAO Retail CEO discusses Carrefour expansion In an interview in Lineaires , the CEO of CFAO Retail, Desjobert Xavier, di...
28 January 2016
As Choppies sustains its growth trajectory in Zimbabwe, Shoprite spotlights its local buying in Nigeria and the difficult market conditions in Zambia and a new competitor emerges online in South Africa, we round up news from the region. Choppies continues expansion in Zimbabwe Botswana-based Choppies has laid out plans to open two more supermarkets in Zimbabwe – in Bulawayo and Gokwe – by t...
18 January 2016
After South Africa-based Woolworths, Massmart and Shoprite report results for differing time frames, we round up how they have performed. Woolworths (SA) maintains positive growth in H1 Woolworths (SA) said that group sales rose by 17.1% in its first half at a group level, while they rose by 12.3% excluding the benefit of its acquisition of Australia-based David Jones. As with other recent ...
13 January 2016
South Africa-based Shoprite said, as part of announcement of unaudited results, that turnover rose 8.8% to ZAR62.5 bn (US$3.7 bn) during the first half of its financial year. The pace of sales growth, while positive, shows a slowing versus the same period in the previous financial year, when the advanced by 13%. The H1 results show an improvement in performance for Shoprite during the second q...
05 January 2016
As Kenya-based Uchumi reveals its losses and seeks investment, Zimbabwe-based Meikles discusses its half year results and discusses its expansion plans, Botswana-based Choppies investigates further opportunities in South Africa and CFAO opens its first Carrefour branded store in Cote d'Ivoire, we round up news from the region. CFAO opens first Carrefour branded store Following the signing o...