Markets/South Africa/News

South Africa news

04 June 2020
Netherlands-based SPAR International reported global sales growth of 4.35% to €37.1 bn (US $41.6 bn). The retailer stated its entry into two new markets, an additional 208 stores and the consistent expansion over the past four years has been a key growth driver, although the Coronavirus (COVID-19) pandemic has brought challenges. 2019 ‘has again delivered exceptional results’ Commenting o...
22 May 2020
Pick n Pay and Shoprite have announced they have agreed to drop exclusivity clauses in shopping mall leases with immediate effect. The retailers were suggested to be using the clauses to limit opportunities for small and speciality retailers. They have both have said they will also roll back the effects of the clauses on other businesses over time. Announcement follows 2019 Grocery Retail Mark...
21 May 2020
South Africa-based, Walmart-owned Massmart has provided an update on its trading and discussed its current initiatives as it looks to conserve cash given the prolonged lockdown caused by the coronavirus (COVID-19) pandemic. Sales fall 11.9% due to lockdown in South Africa Massmart reported that total sales for the 19 weeks ended 10 May fell 11.9% versus the same period in 2019. It said tota...
19 May 2020
SPAR South Africa has released a trading update and trading statement providing mixed news from the company. While it reported strong revenue growth, the company said its basic earnings per share and headline earnings per share were set to fall. Positive revenue growth seen across all geographies… SPAR South Africa said it had enjoyed revenue growth of 10.1% in the six-month period to the e...
15 May 2020
As part of its full year results announcement , South Africa-based Pick n Pay said the pandemic was expected to affect the margins and profitability in its 2021 financial year. It said the lockdown in its home market had led to the stopping of sales of key items including liquor, tobacco and clothing. Pandemic adding to existing operational pressures Retailers had already highlighted the...
14 May 2020
South Africa-based Pick n Pay said Group turnover rose 4.7% in its full year to 1 March 2020, despite the challenging operating environment. The retailer reported group sales of ZAR89.2 bn (US$4.8 bn) for the year. It highlighted the growth in its home market, where turnover grew 5.1% and comparable profit before tax rose 15.2%. Strength of performance for operations in South Africa… Pick n...
23 April 2020
South Africa-based, Walmart-owned Massmart has provided a trading up for its total sales for the 13-week period to the end of March 2020. The retailer generated total sales of ZAR22.0 bn (US$1.2 bn) during the timeframe, an increase of 1.3% versus the same period in 2019, with comparable store sales up by 0.9% and product inflation estimated Massmart standing at 2.3%. Total sales rise marginal...
21 April 2020
We look at the actions some of the major online retailers and third-party logistic firms in Africa have undertaken in response to the Coronavirus (COVID-19) pandemic. South Africa: Pick n Pay’s new collect and delivery service Pick n Pay has added an online purchasing solution, Collect Direct, enabling shoppers to purchase their groceries via email: First, shoppers select their neares...
09 April 2020
New developments for retailers in South Africa, Kenya, and Nigeria. South Africa: Pick n Pay adds automatic grocery delivery service After a successful pilot in 2019, Pick n Pay has launched an automatic delivery service to all online shoppers. The service, Grocery Genius, provides shoppers with an easy and convenient way to restock their groceries. Shoppers can set the deliveries to automa...
27 February 2020
Four developments for African retailers Massmart, Meikles, OK Zimbabwe, and Tuskys. Massmart fails in offering fresh food at Game… Massmart’s plan to develop its discount retail chain Game into a food retailer has failed. Game had made a name for itself as South Africa’s leading discount retailer before its unsuccessful move into fresh and frozen food. …but is investing in initiatives to...