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7 Shoprite buildings going under the hammer

Shoprite Holdings has just completed a review of its property portfolio and as part of its restructure, on 12 September it will be auctioning seven non-core retail centres all with anchor tenant leases to be concluded at the time of transfer following their sale by High Street Auctions (HSA).

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Another discovery of listeria

Shoprite says recalled Farmer's Deli Red Viennas following discovery of listeria. The group says further testing needs to be done to confirm the presence of harmful levels of the bacteria which will take another five working days.

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Wesgro assists Cape companies do business in Angola

This week Wesgro is hosting a senior delegation from the Angolan Economic Ministry’s task team to revive the Lusophone nation’s economy. Wesgro is arranging meetings for the delegation with key Cape companies invested in Angola such as Shoprite, Oceana and Fruit & Veg City. They are also meeting with potential new investors whose entrance to the market will be facilitated by Wesgro.

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Tills jingling for Cape retailers

  • Published in Retail

CAPE TOWN headquartered retail conglomerates appeared to enjoy brisk Christmas trading with recent sales updates mostly confirming double digit growth. The trading statements – to an extent – allay fears that discretionary spending would dry up as consumers faced up to the prospect of lower salary increases and the prospect of higher interest rates as well as higher prices following the calamitous collapse in the rand against major international currencies. But the outlook for 2016 remains cautious, and local retailers are going to have to work extra hard to maintain margins and keep top line ticking over.

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Ka-ching, ka-ching (for now)

  • Published in Retail

Despite the increasingly tough conditions for already hard pressed consumers, Cape-based retailers appear to have come through the first half of 2015 in fairly good fettle. This is according to the various trading updates released recently as well as recent annual reports.

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Jingling tills for local retailers

  • Published in Retail

Western Cape-based retail sector stalwarts appear to have traded cheerily through the festive season – despite initial worries that the hard-pressed consumer would shop less enthusiastically over the Christmas period.

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Wragge to riches?

  • Published in Retail

Retail tycoon Christo Wiese – the major shareholder in Shoprite and Pepkor – has re-established links with Martin Wragge, best known for being the prime mover behind the Century City and Canal Walk developments.

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Picking up the pace

CAPE TOWN-based supermarket giant Pick n Pay – now with new CEO Richard Brasher at the helm - has emerged a stronger business than six months ago. But even though directors are encouraged

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