Tag: Retail

Woolworths’ 118% rise in online food sales drive overall growth of segment

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SOUTH AFRICA – South African retail giant Woolworths, has reported that its group sales for the 52 weeks ended 27 June 2021, increased by 9.7% compared to a year earlier, and by 5.9% in constant currency terms. According to the upmarket retailer, trading conditions in the second half of the financial year are not directly comparable to the prior year, given the extensive impact of the pandemic. South Africa’s recovery during this phase of the Covid-19 pandemic has been set back by the onset of the third wave of infections…

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Uganda securities exchange suspends Uchumi Supermarket’s trading on the bourse

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UGANDA – Cash-strapped Kenyan headquartered retailer, Uchumi Supermarket, has been suspended from trading it shares on Uganda Stock Exchange’s main investment market segment and the listing of the company’s shares on the official list. According to a notice signed by the USE Chief Executive Officer Paul Bwiso, the suspension follows Uchumi’s failure to meet listing obligations. “The suspension is on account of Uchumi’s continued failure to comply with listing obligations prescribed under the USE Fees, Charges and Penalties Rules of 2021 and the USE Listing Rules of 2021, respectively,” indicated…

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Shoprite stretches a helping hand to affected communities in South Africa, undertakes donation drive

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SOUTH AFRICA – Shoprite group, South Africa’s largest consumer goods retailer has rallied up support to help communities affected by unrest recover from the violent uprisings. The supermarket chain owner has made an initial donation of R1 million (US$68,800) to the cause via its Act For Change Fund. To boost the kitty, Shoprite has urged its customers to participate in the drive by making donation to the fund at any of its outlets under the Shoprite, Checkers or Usave banners. According to the retailer, the funds will be used by…

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South African retailers turn to online sales, launch of convenience stores to drive sales

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SOUTH AFRICA – The COVID-19 pandemic hugely impacted the food supply value chains across the globe, following the restrictions put in place by the various authorities and governments to reduce the spread of the virus. To quantify the impact, South African retail food sales amounted to US$39.8 billion in 2020, a 6 percent decline compared to US$6.4 billion registered in 2019. This was a retrogression from the gains registered in the previous year of 3 percent. According to a GAIN report by USDA, this was due to the government-imposed restrictions…

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South African retailers soar above riot disruptions, commence rebuilding, restocking

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SOUTH AFRICA – South African retailers are working round the clock to replenish shelves with groceries, food and other essential supplies in hundreds of stores which were looted in one of the country’s worst unrest in years. Supermarket owners have indicated that they are racing to keep stores unaffected by the violence stocked, as some shoppers were stripping shelves with panic buying, though blocked roads and disruptions to supply chains were hampering their efforts. In the affected areas i.e., KwaZulu-Natal and Gauteng, retailers are gearing up to rebuild the affected…

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South Africa faces negative economic impact as unrest rock country

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SOUTH AFRICA – South African retailers have been left counting losses after sporadic incidents of protests in KwaZulu-Natal and Gauteng, have resulted in widespread looting and disrupted the supply chain, raising concerns of a potential shortage of basic consumer goods in SA. The loss to retailers, including the cost of damage to property and delivery vehicles, runs into millions of rand, the Consumer Goods Council of SA (CGCSA) has indicated. The CGCSA has condemned the unfortunate incidents of unrest saying such acts of wanton criminality have no place in democratic…

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Botwana retailer Choppies turns to profitability courtesy of restructuring efforts

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BOTSWANA – Botswana based retailer, Choppies Enterprises Limited has attained its first profit since 2016 of P37.7 million (US$3.4m) in the six months ended 31 December 2020, a rise from the loss of P139.2 million (US$12.56m) attained in 2019. According to the company, the turnaround performance is attributed to the benefits from restructuring the business following the exit from underperforming investments. Despite the impressive bottom-line performance, the group’s revenue decreased by 8.7% to P2.711 billion (US$244m). This decline was a result of negative volume growth due to the impact of…

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Carrefour Kenya plans to enter lakeside market with a bang, set for twin openings

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KENYA – Carrefour Kenya, operated by Dubai-based conglomerate Majid Al Futtaim, is set to open two branches in Kenya’s third largest city, Kisumu, in pursuit to get a piece of the lakeside’s growing middle-class shoppers. The two stores will be located at United Mall and Market MEGA, adopting the hypermarket and supermarket models respectively. They are set to open doors in July and August, offering customers an assortment of fast-moving consumer goods (FMCG) at affordable prices, reports Star News. “Kisumu is the third city we are investing in after Nairobi…

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Kenyan retail startup MarketForce raises US$2m series A funding round, eyes Nigerian market

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KENYA – Kenyan retail-tech startup MarketForce, has undertaken a Series A funding round, raising US$2 million to scale up operations. Existing investors such as P1 Ventures and Y Combinator, as well as new investors such as Launch Africa, V8 Capital, Future Africa, GreenHouse Capital, Rebel Fund, Remapped Ventures, and other undisclosed angel investors, participated in this round. MarketForce, enables consumer brands to optimize how they deliver essential goods and services to retailers and consumers by bridging the information gap in last mile distribution, while maximizing efficiency across the sales and…

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Apollo Global enters race to buy UK’s fourth largest supermarket chain Morrisons

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UK – Global alternative investment management firm, Apollo Global Management, has joined the race to acquire UK’s fourth largest supermarket chain, Morrisons.  Apollo Global’s purchase bid comes just days after Morrisons accepted a £6.3 billion (US$8.7 billion) takeover bid by a consortium led by the Fortress Investment Group.   The consortium of investors targeting the acquisition also includes Canada Pension Plan Investment Board and Koch Real Estate Investments, the vehicle of the US billionaire Charles Koch. Founded in 1889 as an egg and butter stall in Rawson Market, Morrisons has expanded…

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