Markets/Africa and Middle East/News

Africa & Middle East news & analysis

15 February 2013
South Africa-based Woolworths has announced that during the first half of its financial year it enjoyed total sales growth of 18% and a rise in like-for-like sales of 9.4%. Grocery sales see strong growth The company said that food sales had risen by 11.1%, aided by an increase in price of 7.4%. Like-for-like sales were up by 7.8%, underlining the strength of Woolworths’s performance. Clothin...
07 February 2013
Panda, part of the Saudi Arabia-based Savola Group, has announced that it enjoyed sales growth of 10.9% in 2012. Results show positive trend for the retailer Panda’s unaudited results for the 2012 full year, ending 31 December, showed that sales had increased by 10.9% to SAR10.1 billion, from SAR9.1 billion in the previous year. The results also showed that Panda’s net income had risen by 55%...
04 February 2013
Reports in Kenya’s Business Daily suggest that locally-based Nakumatt is looking to sell a 25% stake to finance expansion in its home market and neighbouring countries. Investment to build on Nakumatt’s strong foundations The reports suggest that Nakumatt’s managing director Atul Shah will dilute his family’s stake in the business, which stands at 90%, by selling a 25% stake to either institu...
28 January 2013
SPAR International has announced plans to develop the SPAR brand across the Middle East, in a venture with Abu Dhabi Co-operative Society. Third store in UAE confirmed, more to follow Abu Dhabi Co-operative Society (ADCOOPS), SPAR's licensee in UAE, is opening a flagship store for each SPAR format.  A supermarket opened in late 2011 in the Khalidiya region of Abu Dhabi, followed by a sup...
22 January 2013
Carrefour’s franchisee for the Middle East, North Africa and Central Asia, Majid Al Futtaim, has announced that sales through its Retail division rose by 8% during 2012. Sales aided by growth in store numbers During 2012 Majid opened seven hypermarkets and seven supermarkets, bringing its total store base to 90. The new stores helped drive sales growth by 8% to AED17.8 billion. In the compa...
16 January 2013
South Africa-based Shoprite has said that during the six months to December 2012, Group turnover rose by 13.8% to ZAR46.7 billion, with like-for-like sales up by 6.9%. Home market operations see good growth At its stores in South Africa Shoprite said that sales had risen by 11.5%, aided by like-for-like sales growth of 6.2%. The company said that sales in December alone were up by 10.8%, wi...
16 January 2013
South Africa-based Woolworths has announced group results for the first 26 week period of its 2013 financial year, saying that like-for-like sales had risen by 9.4% and by 18% in total, driven by the performance of its clothing range. Good progress across all product categories The company said that in South Africa it had enjoyed positive sales growth across all areas of its business: C...