Steinhoff's African assets will list separately on the JSE by the end of next month in a deal that may also result in Steinhoff acquiring a 22.7% stake in Shoprite. The formation of Steinhoff Africa Retail, or Star - the new name for the group's African assets - comes just seven months after a breakdown in merger talks between Shoprite and Steinhoff.
Pick n Pay has launched a dedicated online distribution centre in Gauteng, which is expected to significantly improve service to online shoppers in the province. Deputy CEO Richard van Rensburg also states that it significantly increases Pick n Pay's online distribution capacity, enabling the retailer to handle the rapid growth it's currently experiencing in online sales.
South Africa has over 35 000 franchise outlets that employ more than 300 000 people. Consequently, franchising holds the key for job creation, because the failure rate of franchise businesses is far less than regular start-ups.
The Grocery Retail Market Inquiry (GRMI) is a crucial step towards finding much-needed clarity on the ongoing problems with long-term exclusive lease agreement provisions between landlords and supermarkets.
Shares in Woolworths, once regarded as a recession-proof retailer, are trading close to three-year lows as the company finds itself stuck between SA’s stalling economy, the cash-guzzling turnaround of its David Jones acquisition in Australia and an impending competitive onslaught from Shoprite, which is moving up-market.
