Africa & Middle East news & analysis

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...
21 August 2020
South Africa-based, Walmart-owned Massmart has released a sales update and trading statement for the 26 weeks ending 28 June, which highlights the impact of COVID-19 on its performance and its expected loss for the period. Total sales fell 9.7% in H1 2020… Massmart said while it had enjoyed an uptick in sales in June, with total sales rising 0.8% versus the same month in 2019, this was not ...
19 August 2020
At a corporate level, UAE-based Majid Al Futtaim saw a fall in revenue of 3%, to AED17.3 bn (US$4.7 bn), and a 27% decrease in its EBITDA, to AED1.6 bn (US$435.5m), in the first half of its financial year. In its results, its Retail division was a bright spot, with Majid Al Futtaim Retail reporting a rise in revenue and EBITDA. Majid Al Futtaim sees stark differences during first half The c...
14 August 2020
Pure play retailer Jumia has reported second quarter results, with gross merchandise volume (GMV) showing a 13.2% fall to €228m. As the retailer pushes for profitability, it highlighted how during the quarter its operating loss had also fallen, by 44% year-over-year, while its gross profit increased year-over-year, by 38%, to €23.3m. Annual Active Consumers hits 6.8m in Q2 2020 A focus for ...
12 August 2020
South Africa-based Shoprite saw sales in the 52 weeks to 28 June 2020 rise 6.4% to ZAR156.9 bn (US$8.9 bn), with like-for-like sales up 4.4%. The retailer’s performance was driven by its home market, where sales were up by 8.7%, aided by a strong second half of the financial year. The impact of coronavirus (COVID-19) on its results was underlined by Shoprite reporting that basket sizes grew 18.4%...
12 August 2020
As UAE-based LuLu grows its store base in Egypt and Abu Dhabi and rolls out a contactless payment solution in the UAE, we round up news from the retailer. LuLu expands presence in Egypt… LuLu has opened its second hypermarket in Egypt in Cairo’s District Mall in Sheraton Heliopolis. The new store was its 190th globally. Commenting on the retailer’s expansion plans for Egypt, LuLu’s chairman...
11 August 2020
South Africa-based Pick n Pay has published an earnings update, covering the 26 weeks to 30 August, which it says will ‘ reflect the considerable impact of the crisis to date ’. The retailer said the effect of three factors were expected to see it report a fall of more than 50% in its headline earnings per share. Mixed update highlights progress… In the update Pick n Pay highlighted how ‘ c...
10 August 2020
SPAR has announced it has expanded its global presence into a new market following the launch of the brand in the Republic of Ghana. SPAR Ghana to be operated by EcoDi SPAR said the brand had been licensed to EcoDi (Economic Distribution Company Ghana) in Ghana. EcoDi will use its existing infrastructure to support the supply chain to existing stores and to small-scale producers. The compan...