Africa & Middle East news & analysis

20 February 2014
Walmart's full year results, for the year to January 31, 2014, revealed consolidated net sales grew by 1.6% to $473.1bn. Consolidated net income attributable to Walmart fell by 5.7% to $16.0bn. The results in summary Given that Walmart had issued a trading update at the end of January there were no real surprises in these results, beyond the rapid expansion announced in small ...
18 February 2014
Casino has reported group sales up 15.9% and an 18% increase in trading profit for 2013. In France, sales were up 5.7% and Casino said it had an "excellent performance internationally." Recovery of activity in France In the crucial home market, Casino reported improvements at both Géant hypermarkets and Casino supermarkets. E-commerce continued to grow, with Cdiscount reporting total ...
27 January 2014
Carrefour’s franchisee for the Middle East, UAE-based Majid Al Futtaim, has announced full year results for 2013, saying it had enjoyed ‘another year of strong performance across its businesses’. Retail division sees sales rise 9% In relation to the company’s retail division, Majid Al Futtaim said that had enjoyed revenue growth of 9% in 2013, taking its total to AED18.7 billion (US$5.1 bill...
20 January 2014
South Africa-based Shoprite has announced preliminary results for the six months ending December 2013 saying that its turnover rose 9.6% to ZAR51.0 billion (US$4.7 billion). Performance driven by international operations The retailer said that in South Africa sales grew by 7.6%, aided by internal inflation of 3.8%. Its stores outside of its home market, though, enjoyed faster sales growth, gr...
16 January 2014
Carrefour has reported 2013 sales of €84.3bn, an organic growth rate of +2.5% (excluding petrol and calendar effect), with continued momentum internationally and rebounding growth in France. 'Resilient' sales in Europe Carrefour reported a second consecutive quarter of sales growth in France, +1.7% organic growth, with a good performance in all formats. Hypermarket sales were up, exclu...
16 January 2014
South Africa-based Woolworths has announced a trading update for the 26 week period ending December 2013, saying comparable sales rose 8.8%. Positive results across all operations Woolworths said that in its home market food sales grew by 15.3%, aided by prices rising 7.2%, while comparable sales grew by 11.8%. In its operations outside South Africa the retailer said that it had grown its sel...
16 January 2014
South Africa-based, Walmart-owned Massmart has announced full year results for the 53 week period to 29 December 2013, saying total sales rose 9.7% to ZAR72.2 billion (US$6.6 billion). Growth seen across all divisions Massmart said that it had enjoyed sales growth in all its subsidiaries. The retailer said that, when comparing 52 week periods in 2013 and 2012, it had enjoyed total sales growt...
15 January 2014
Casino has reported 2013 net sales of €48.6bn, up 15.9%, with total sales in France up 5.7% and a strong international performance, particularly in Brazil. For the fourth quarter, internationally Casino reported an "excellent performance relative to previous quarters" , and continued improvement in France. Improvements in France In France, the full consolidation of Monoprix (since 5 Apr...
13 January 2014
After a number of strategic announcements, we round up news from three Africa-based retailers: Nakumatt, Sefalana and Uchumi. Uchumi to expand in Rwanda Kenya-based Uchumi has announced that it will continue to expand and is looking to add two outlets in Rwanda’s capital city, Kigali. According to the company’s chief executive, Jonathan Ciano, expansion in Rwanda will help support its regiona...
02 January 2014
Carrefour’s UAE-based franchisee, Majid Al Futtaim (MAF), has announced a series of initiatives in recent weeks. We summarise the company’s developments in Jordan, Morocco and Oman. MAF to invest in Oman The company has announced plans to invest US$467 million in the building of a new shopping centre in Oman’s capital city Muscat. The centre will be anchored by a Carrefour hypermarket and i...