February 10, 2010
Massmart achieves level four BBBEE rating
The Massmart Group of companies has achieved a Level Four Broad Based Black Economic Empowerment (BBBEE) contributor status, two years earlier than planned. Massmart achieved a score of 66.14% from ratings agency Empowerdex, following a comprehensive audit of the Group's BBBEE performance.
Posted by StaffWriter at 10:09 AM | Comments (0)
December 11, 2009
As a Challenging 2009 Comes to a Close, JHI Looks Optimistically Forward to 2010
What a year it has been! The retail, travel, property and motoring industries will testify to the immense challenges and difficulties 2009 has brought. The commercial property market has possibly been one of the industries most affected, the recession, high unemployment, liquidations, insolvencies and the global economy have all had a direct impact on the market.
Posted by StaffWriter at 7:37 AM | Comments (0)
November 27, 2009
Dubai debt repayment delay won't sink V&A
Business is continuing as usual, the V&A Waterfront says in a statement. This follows reports that one of the centre's owners Dubai World has requested a delay in its debt repayments.
Posted by StaffWriter at 8:50 AM | Comments (0)
November 23, 2009
Time to cut losses and skill up
David Shapiro: The big talking point on the JSE last week was the level of bad debts that companies had written off their profits.
Posted by StaffWriter at 9:48 AM | Comments (0)
November 12, 2009
Spar year a tale of good half, bad half
Grocery retailer Spar experienced the proverbial "year of two halves" as food inflation reached highs of 16 percent in the first half and dropped significantly to 9 percent in the second half.
Posted by StaffWriter at 10:09 AM | Comments (0)
November 11, 2009
Spar reports trading profit up 25%
In a difficult and competitive trading environment The SPAR Group Limited produced strong growth in both sales and profitability for the year under review. Turnover of R32 billion increased 19.5%, while trading profit rose 25% on the prior year.
Posted by StaffWriter at 9:45 AM | Comments (0)
October 12, 2009
Other BEE deals in the food sector
Pioneer Foods introduced black empowerment shareholding to the company in 2006 through the establishment of a trust for employees of South African subsidiaries of the group.
Posted by StaffWriter at 10:04 AM | Comments (0)
September 2, 2009
Calls flood in as SAB opens up BEE hotline
Cape shebeen and tavern owners have inundated the SA Breweries (SAB) hotline this past week to book seats at the group's roadshows, which are aimed at giving more details about its recently announced broad-based black economic empowerment (BBBEE) deal.
Posted by StaffWriter at 11:19 AM | Comments (0)
July 28, 2009
BBBEE progress at KWV
KWV has just received confirmation that its Broad Based Black Economic Empowerment (BBBEE) rating has improved to a Level 5 contributor - one of the highest in the liquor industry. This is good news for a company that has been putting serious effort into transformation and empowerment since its pioneering BBBEE ownership transaction in 2004.
Posted by StaffWriter at 9:44 AM | Comments (0)
July 20, 2009
Retailers rapped for slow BEE deals
Analysts last week attacked the retail industry for dragging its feet on empowerment because they were not under direct pressure from the government as their main customer was the man on the street.
Posted by StaffWriter at 9:52 AM | Comments (0)
July 17, 2009
Spar staff get R1bn BEE slice of group
GROCERY retailer Spar said yesterday it would sell 10% of its equity to staff and franchise employees in an empowerment deal valued at about R1bn.
Posted by StaffWriter at 9:39 AM | Comments (0)
April 15, 2009
Clothing quotas would not patch up textile sector
If officials had succeeded in stimulating the local clothing and textile sector by imposing quotas on about 65 percent of Chinese clothing and textile imports, they would have created another set of problems.
Posted by StaffWriter at 10:06 AM | Comments (0)
March 24, 2009
Massmart BEE investors win
Massmart upped the distribution paid out to staff from 50 percent of the ordinary dividend to 75 percent, the cash retail group said yesterday, adding that black economic empowerment (BEE) investors were in the money.
Posted by StaffWriter at 7:14 AM | Comments (0)
February 11, 2009
Massmart achieves level five BBBEE rating
Massmart Holdings has achieved a Level Five Broad Based Black Economic Empowerment (BBBEE) contributor status from ratings agency Empowerdex, following a comprehensive audit of the Group's BBBEE performance.
Posted by StaffWriter at 7:28 AM | Comments (0)
February 10, 2009
Retail group scores high on BEE
Massmart had delivered on its broad-based black economic empowerment (BEE) commitment, the retail giant said yesterday.
Posted by StaffWriter at 10:27 AM | Comments (0)
February 9, 2009
Massmart delivers on empowerment commitment
Wholesale and retail giant Massmart Holdings has delivered on its broad based black economic empowerment (BBBEE) commitment, it said.
Posted by StaffWriter at 11:50 AM | Comments (0)
January 13, 2009
Jewellery sector told to comply
The jewellery sector is under pressure to comply with the BEE Codes of Good Practice in order for companies to receive operating licences by May this year.
Posted by StaffWriter at 11:08 AM | Comments (0)
November 27, 2008
Top retailer bosses earn fortunes
Shop floors may be empty these days but the executives of SA's big retailers are doing alright.
Posted by StaffWriter at 9:32 AM | Comments (0)
November 23, 2008
Imperial pays BEE bail
Imperial's (JSE:IPL) BEE deal has come dangerously close to collapsing. This is because money was lent to the BEE investors on the condition that Imperial's share price would remain above a certain level.
Posted by StaffWriter at 7:48 AM | Comments (0)
September 22, 2008
BEE rules put us at risk - micro jewellers
White-owned micro jewellers have expressed outrage at a requirement to submit black economic empowerment (BEE) plans to the regulator, but the department of minerals and energy has said it is sympathetic to their plight.
Posted by StaffWriter at 7:46 AM | Comments (0)
September 13, 2008
Certification brings in new business
BMG has achieved a significant milestone in attaining its level 6 BEE certification. It aims to enhance this further by achieving level 5 accreditation next year.
Posted by StaffWriter at 7:28 AM | Comments (0)
September 11, 2008
Bee frauds lose R40m tender
The City of Cape Town has decided to cancel a R40million tender awarded to a tyre company found to have used a labourer as a front for Black Economic Empowerment.
Posted by StaffWriter at 7:42 AM | Comments (0)
September 7, 2008
Cape BEE tyre bid a front: Rivals
Frans West spent most of his life doing manual labour, lives in a modest council flat on his R1000 a week salary and has a Std 2 education.Posted by StaffWriter at 7:27 AM | Comments (0)
August 27, 2008
Imperial annual results. Hubert Brody - CEO, Imperial
ALEC HOGG: We have a trio of chief executive's in the line up from now onwards.Posted by StaffWriter at 9:10 AM | Comments (0)
August 21, 2008
Woolies middle, upper customers hard hit
Woolworths said that its middle and upper income customers had been hard hit as household debt burdens increased materially.Posted by StaffWriter at 9:43 AM | Comments (0)
Massmart delivers strong results
In an environment dominated by rising food and fuel prices and higher interest rates, retailer Massmart announced what it termed "strong" overall results for the year ending June.Posted by StaffWriter at 9:41 AM | Comments (0)
August 5, 2008
Masonge aims to raise R89m in IPO
Masonge, the second black equity ownership programme for employees of furniture retailer Ellerines and black individuals, was expected to raise R89 million from an initial public offering (IPO) to be opened tomorrow and closed on September 13, African Bank Investment Limited (Abil) said yesterday.Posted by StaffWriter at 8:01 AM | Comments (0)
July 18, 2008
Woolworths sales up 15.5%
South African retailer Woolworths Holdings said on Friday that total group sales for the 53 weeks ended June were up 15.5 percent compared with the 52 weeks a year ago, while they were up 13.7 percent for 52 weeks compared with a year ago.Posted by StaffWriter at 2:19 PM | Comments (0)
Furnace supplier fires up skills development programme
Supplier of submerged arc furnaces, Tenova Pyromet, is responding to the call for skilled personnel in a sector beset by skills shortages, through the implementation of its internship and training programmes.Posted by StaffWriter at 7:19 AM | Comments (0)
May 22, 2008
Steinhoff's empowerment deal falls flat
VOLATILE markets have scuttled a R1,8bn empowerment deal that would have seen Steinhoff International's local subsidiary sell a 20% stake to an empowerment group.Posted by StaffWriter at 2:51 PM | Comments (0)
May 21, 2008
Steinhoff to issue convertible bond, shares fall
South African furniture retailer Steinhoff International said on Wednesday it will issue a 1.5 billion rand convertible bond, sending its shares down as much as 4.5 percent.Posted by StaffWriter at 10:38 AM | Comments (0)
March 4, 2008
Seardel to continue to cut costs
Clothing and footwear group Seardel Investment Corporation said on Tuesday that headline earnings per share for the interim period ended December went down 87.1 percent to four cents, from 31.1 cents in the same period in 2006.Posted by StaffWriter at 7:40 AM | Comments (0)
February 28, 2008
Massmart heps before BEE deal up 17%
South African retailer Massmart reported on Thursday a 16.8 percent rise in half-year headline earnings per share, excluding a black empowerment deal, as its diverse businesses helped offset lower spending by middle-income consumers.Posted by StaffWriter at 11:15 AM | Comments (0)
February 13, 2008
Dividend shock from Italtile
If you'd asked an analyst which companies were least at risk of cutting their dividends, odds are Italtile would have been fairly high up the list.
Posted by StaffWriter at 7:03 AM | Comments (0)
December 22, 2007
BEE retailer's sales in top gear
MONEY might be tight this Christmas after four consecutive interest rate hikes, but ebullient clothing retailer Julia Kgamane of the Jet Store in Atteridgeville, Tshwane, is beaming and wearing a broad smile.Posted by StaffWriter at 7:39 AM | Comments (0)
December 18, 2007
Retailers get wake-up call
The retailers' boards of directors will need to pull up their socks if they want to survive until next Christmas, the Board Barometer survey said.Posted by StaffWriter at 7:35 AM | Comments (0)
December 10, 2007
KZN Malls ready to lure shoppers
Just in time for the festive season shopping rush, building contractor Grinaker-LTA, part of the JSE-listed Aveng Group, has completed contracts totalling more than R336 million for extensions and upgrades at three KwaZulu-Natal shopping mallsPosted by StaffWriter at 7:18 AM | Comments (0)
October 16, 2007
Retail franchise operations core to the franchise mix
Retail franchising in South Africa has achieved store and turnover growth of almost 10% since February 2006 and turnover growth of 21%. It is the second largest contributor to the local franchise mix, after the fast food and restaurant sectors.Posted by StaffWriter at 12:24 PM | Comments (0)
October 8, 2007
New AltX listing has big growth plans
Clay face brick manufacturer and retailer African Brick Centre plans to expand the retail side of its business to some 50 franchise stores in the next 18 months, said group CEO Beno van Graan.Posted by StaffWriter at 8:36 AM | Comments (0)
Slower sales hit CMH profits
Those who've been watching the trend of new vehicle sales won't be surprised that motor retail profits are being squeezed.
Posted by StaffWriter at 8:34 AM | Comments (0)
December 3, 2004
Stuttafords to list on JSE next year to facilitate BEE
Cape Town - Fashion retailer Stuttafords will list on the JSE Securities Exchange towards the middle of next year ...
Posted by Bernie at 3:44 PM | Comments (0)
