South Africa news

16 December 2015
As South Africa-based Food Lovers Market receives investment from a private equity firm; Botswana-based Choppies and Kenya-based Nakumatt maintain their expansionist strategy and Shoprite collaborates with Uber for its Black Friday promotion, we round up news from the region. Food Lovers Holdings receives investment from private equity firm Food Lovers Holdings has obtained ZAR760m (US$50.5...
17 November 2015
We review Walmart’s latest quarterly results as it heads into the critical holiday season. Top-line results Walmart’s total revenue decreased by 1.3% to $117.4.bn in the third quarter, although net sales in its US stores and Sam’s Club (ex-fuel) increased by 3.8% and 1.6% respectively. Comp store sales in the US were positive for the fifth consecutive quarter, up 1.5%.  International s...
17 November 2015
As South Africa-based Shoprite said it was on track to meet its store opening target for its current financial year, OK Zimbabwe revealed half year results and Uchumi’s chief executive reaffirmed the retailer’s long term aims, we round up news from the region. Shoprite continues expansion programme As part of the retailer’s AGM, South Africa-based Shoprite has said that it is on track to me...
13 November 2015
As South Africa-based SPAR Group and Massmart update on their sales performance for different timeframes, Botswana-based Choppies enters Kenya and Zimbabwe-based Meikles spotlights the expansion of its Mega Market brand, we round up news from the region. SPAR Group boosted by Ireland acquisition South Africa-based SPAR Group has said that its full year results have been boosted by its purch...
21 October 2015
As Botswana-based Choppies says it will maintain its pace of store growth, SPAR International announces its first stores in Cameroon and Malawi and expansion in Nigeria, while Pick n Pay and Shoprite release sales updates and Uchumi exits Tanzania and Uganda, we round up news from the region. Pick n Pay sees acceleration in turnover growth in H1 Announcing its first half results, South Afri...
08 October 2015
As the protracted agreement between Portugal-based Sonae and Angola-based Condis has been resolved, Kenya-based Uchumi closes stores and Zimbabwe-based Meikles reveals a positive financial performance, we round up news from the region. Condis to launch hypermarket chain after Sonae terminates JV Portugal-based Sonae has sold its 49% stake in a joint venture that was set to lead to the openi...
05 October 2015
South Africa-based Pick n Pay has published a trading statement saying that operating conditions in its home market remain ‘ difficult ’ and are set to remain so during the second half of its financial year. Despite this, the retailer said that turnover growth ‘ accelerated in the first half of the year… to 8.5% compared to 6.1% in the 2015 ’. Strategy bearing fruit for turnover growth Pick...
23 September 2015
As FreshStop opens its 200th store, Uchumi says that it is expecting to return to profit growth within a year and that it will have completed its audit in the next two weeks, Tuskys’s chief executive says that it is preparing for an IPO and SPAR looks set to add another store in Nigeria, we round up the news from the region. Uchumi sets out recovery plan, aiming for profit growth within a year...
23 September 2015
Botswana-based Choppies has announced its unaudited results for its 2014/15 financial year ending June 2015, saying that its turnover rose by 18.6% to BWP5.94 billion (US$561.9 million) driven by strong store growth. Strong growth across all operations Choppies said that total turnover growth rose by 18.6%, with a rise in turnover seen in all its markets. In its home market Choppies said th...
09 September 2015
As Kenya-based Uchumi and Botswana-based Choppies announce divergent statements about their financial performance in the last year and Woolworths (SA) appoints a new chief executive for its operations in South Africa and Africa, we round up news from the region. Woolworths (SA) appoints new CEO for South Africa Woolworths (SA) has said it has appointed Zyda Rylands as chief executive of it...