Markets/Africa and Middle East/News

Africa & Middle East news & analysis

18 January 2021
South Africa-based Pick n Pay have announced that Richard Brasher will retire from his role as chief executive from 21 April 2021. The retailer said that Brasher will be succeeded as CEO by Pieter Boone, who was formerly the chief operating officer of Metro AG. Brasher to leave Pick n Pay in stronger position than when he arrived Brasher leaves after eight years as chief executive of Pick n...
23 November 2020
South Africa-based Woolworths has reported a 20-week trading update, saying group sales rose contracted by 2.0% in constant currency terms as restrictions implemented because of COVID-19 affected results. It said restrictions had caused lower footfall at stores that were open, while they led to unplanned store closures too. Woolworths Food remained resilient throughout… While Woolworths fac...
20 November 2020
SPAR South Africa has published full year results for the year ending September 2020, saying turnover rose 13.5% to ZAR124.3 bn (US$8.1 bn). The company’s operating profit increased by 15.6% to ZAR3.4 bn (US$220.6m), with its profitability ‘ positively impacted by a change in sales mix as increased home consumption drove higher-margin grocery and fresh categories ’. ‘ A year in crisis ’ SPA...
19 November 2020
Shoprite has reported sales growth of 3% in the first quarter of 2021, a performance that was heavily impacted by restrictions on its business in South Africa due to COVID-19. The results were a marked slowdown on its performance in the same quarter in 2019, when sales grew by 7.3%. Shoprite sees sales growth slow in Q1… Shoprite reported total sales growth of 6.0%, excluding its LiquorShop...
04 November 2020
Following updates from South Africa-based Woolworths and Walmart-owned Massmart, we round up news from the retailers. Woolworths SA invests in prices… Woolworths is to invest ZAR1.0 bn (US$61.4m) in prices over the next two to three years. ZAR750m (US$46.0m) will be invested in its food business and ZAR250m (US$15.3m) in its fashion business. In the first phase Woolworths will invest ZAR500...
28 October 2020
Following on from its results announcement , Pick n Pay has set out how it is aiming to continue to grow sales, both in South Africa and across the region more widely. To grow presence for Boxer banner Pick n Pay said it could double the number of Boxer stores to 600 in five years as it looks to target underserved low and middle-income shoppers. The retailer believes long-term growth wil...
26 October 2020
Across its operations Majid Al Futtaim (MAF), which operates the Carrefour brand across the Middle East and Africa, is looking to grow its online skill and scale quicky. The retailer, which has seen changing shopping habits because of COVID-19, has been investing heavily in its online operations as a result. We round developments from across its operations which underline its growing online capac...
23 October 2020
Pick n Pay has released interim results for the 26 weeks ending 30 August 2020. Turnover rises in H1… Pick n Pay reported comparable turnover rose 2.6% to ZAR44.2 bn (US$2.7 bn) at a total company level, with like-for-like sales rising by 1.0%. Its performance in South Africa drove its results, with comparable turnover in its home market rising by 3.4% to ZAR42.7 bn (US$2.6 bn), with like-f...
23 October 2020
South Africa-based, Walmart-owned Massmart has reported sales for the first nine months of its financial year. The retailer said the easing of COVID-19 related trading restrictions had led to ‘ slightly better trading conditions for the… quarter ’. Total sales fall 8.9% in first nine months of 2020 In the quarter Massmart said it had seen an improvement in trading conditions, which led to ...
15 September 2020
Africa-based pure ecommerce retailer Jumia has announced new partnerships in Uganda and Kenya, while rolling out services to make it easier for shoppers to buy from it in Ghana. Jumia expands pick up stations’ presence in Ghana As it looks to make using its services as easy as possible and as it looks to benefit from the uptick in shopper interest in ecommerce in the region as a result of C...