Africa & Middle East news & analysis

25 April 2014
India's Future Group has a new subsidiary in the pipeline to support PL, and may be mulling supermarket acquisition in southern India. Supporting PL growth through UAE base The business division Future Consumer Enterprise (formerly known as Future Ventures) will invest around US$400,000 in setting up a wholly owned subsidiary, the Hindu Business Line reports. This will support the expo...
24 April 2014
South Africa-based Shoprite has announced plans to continue to grow its store presence in its home market and across the continent with both its food-focused banners and furniture stores. Store growth to continue in Zambia Shoprite Zambia’s general manager, Charles Bota, has announced that the retailer is set to open six further stores in Zambia by the end of 2015, which will grow its presenc...
24 April 2014
South Africa-based Clicks, a health and beauty focused retail and supply group, has announced first half sales saying that group turnover rose 9.6% to ZAR9.3 billion (US$878.7 million) driven by its pharmaceutical wholesaler arm UPD. Weak consumer spending limits retail growth The company noted that sales in its retail division grew by 7.4%, with it saying that consumer spending remaining c...
24 April 2014
Following on from the retailer’s announcement of positive full year results, Pick n Pay has highlighted the positive effect of its targeted strategy and the continued strength of its Smart Shopper loyalty programme. Strategy to maintain focus on fresh produce and new stores Pick n Pay has said that following on from its annual results, it will maintain its strategy in the medium term, continu...
15 April 2014
South Africa-based Pick n Pay has announced full year results saying sales rose 6.5% – or by 7.6% on a comparable 364 day period – with total till sales reaching ZAR73.0 billion (US$6.9 billion). The retailer said that turnover rose by 6.5% – 7.7% on a comparable period – to ZAR63.1 billion (US$6.0 billion). Expansion underpins growth at home and across Africa Pick n Pay said that it opened 1...
11 April 2014
Speaking at the Reuters Africa Investment Summit in Johannesburg South Africa-based Woolworths’s head of international operations, Paula Disberry, has set out the retailer’s medium term expansion plans for sub-Saharan Africa. Retailer aims to add 15 stores Disberry said that Woolworths was aiming to open 15 stores in sub-Saharan Africa, including in Kenya, Mauritius and Namibia, during the ne...
11 April 2014
South Africa-based, Walmart-owned Massmart has announced that its chief executive, Grant Pattison, is stepping down and will be replaced by the retailer’s existing chief operating officer, Guy Hayward. Pattison steps down after seven years as CEO Grant Pattison will step down as Massmart’s CEO on 1 June 2014, after seven years in the role. Discussing the decision, Pattison said: “ I have been...
10 April 2014
Carrefour has reported consolidated sales up 3.7% on an organic basis for the first quarter of 2014, with a "good performance" in France and Spain. Organic growth in emerging markets was +10.5%. Ongoing improvements in France and Spain First quarter sales faced what Carrefour called a "significant -7.4% impact" from a combination of a currency effect (-5.3%), later Easter (01.3%) and a fall...
09 April 2014
Speaking at the Reuters Africa Investment Summit in Johannesburg, Mark Turner, Massmart's Africa director, said the retailer was aiming to open two stores in the market by 2015 and was building its first store in Kenya. Expansion will meet strategic aim Massmart’s entry into Angola will help it meet the strategic aim of expanding into fast growing markets in sub-Saharan Africa. The two stores...
09 April 2014
South Africa-based Woolworths has announced that it will acquire Australia-based department store chain David Jones for ZAR21.4 billion (US$2.0 billion). Acquisition will create ‘ a leading southern hemisphere retailer ’ Woolworths, in its statement announcing the acquisition, said that the purchase of David Jones will create a ‘ leading southern hemisphere retailer with pro-forma combined FY...