Africa & Middle East news & analysis

28 May 2013
Kenya-based Nakumatt has stated it will invest nearly KES1.4 billion (€12.5 million) to expand its store base. Retailer remains ‘optimistic’ about retail’s growth The company’s managing director, Atul Shah, said that Nakumatt is ‘ optimistic that the retail sector will this year make a very significant contribution to the economy largely due to the prevailing growth oriented economic environm...
23 May 2013
Carrefour has announced that it has sold its 25% stake in its Middle Eastern joint venture to its partner in the region, Majid Al Futtaim (MAF), for €530 million. Sale includes ‘strengthening of exclusive partnership’ Carrefour said that at the same time as the sale of its stake in the joint venture, the two companies were also strengthening the existing exclusive franchise partnership by ‘...
22 May 2013
Abu Dhabi’s government has announced plans to upgrade independent stores under the ‘Baqala’ brand name. Step ‘in tune with Abu Dhabi’s Development Vision for 2030’ The new law will require independents to make their stores more appealing and shopper-friendly. It will specifically involve them adding security systems, cash registers, cooler boxes, clearly displayed prices, storage rooms, overh...
22 May 2013
SPAR International has reported worldwide retail sales up 2.8% in 2012, and revealed its new strategy: "Growing our future together." International expansion has always been a strategic goal SPAR's new strategy builds on its long-term objectives. It sets out the strategic objectives for 2013-2015 under three broad headings: Growing our partners - Developing a multi-format presenc...
22 May 2013
Speaking at the company’s AGM, Massmart’s chief executive, Grant Pattison, discussed its recent sales performance and strategic decisions up until now. Total sales up 9.8% Pattison said that in the first 21 weeks of the 2013 financial year Massmart’s total sales rose 9.8%, while comparable sales were up by 5.6%. The retailer’s total sales growth was driven by its Masswarehouse and Massdiscoun...
20 May 2013
Tesco has confirmed that it will work with two of the world's leading franchise operators to open over fifty F&F branded clothing stores outside of the UK. F&F to expand into nine new markets over next five years Over the the next five years Tesco and its partners will open F&F branded clothing stores across the Middle East, Kazakhstan, Georgia, Armenia and Azerbaijan. The deal sees the UK'...
16 May 2013
Walmart's total net sales for the first quarter increased by 1.0% to $113.4bn, with growth led by its international division, where sales increased by 2.9%. In the US, Sam's Club delivered a 0.5% increase in sales (ex-fuel), while at its core US stores operation sales grew 0.3%.  Comp store sales at its US stores declined by 1.4% (ex-fuel). Operating income over the period increased by...
15 May 2013
@WalmartLabs has made two further acquisitions, OneOps and Tasty Labs, to boost its capabilities in platform and cloud development and social integration. Adding technology and talent through acquisition These latest acquisitions represent a continuation of @WalmartLabs’ strategy to build its team by strategically adding technology and talent through key acquisitions. The acquisition of One...
15 May 2013
SPAR has reported group turnover up 9.6% for the six months ended March 2013, driven by a strong performance from liquor stores. Tops liquor is standout performer Tops' wholesale turnover grew by 18.2%, and 25 new stores opened during the first half. Product inflation did have an effect however, at 7.9%. SPAR's combined food and liquor retail sales were up 10.2%, and 7.8% on a like-fo...
14 May 2013
Kenya-based Uchumi’s chief executive, Jonathan Ciano, has announced that the retailer will open a further 13 stores in east Africa in the next year. Cash call to fund growth Ciano said that the company is preparing a cash call and a cross listing of its shares to enable it to invest in markets across the region. Uchumi will list shares on bourses in Rwanda, Tanzania and Uganda to generate fun...