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Cape retail's new selling points

  • Published in Retail

SALT RIVER-based fashion retailer Rex Trueform managed a stylish performance in the half-year to end December with revenues up 7% to R296m and after tax profits up a smart 10% to R19m. CEO Catherine Radowsky stressed that trading expenses – a key area of focus in an economically depressed environment – were contained and increased by less than 5%.

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Container brothers pack it in

Two of Cape Town’s most successful industrialists, brothers Neil and Cecil Jowell, have retired after more than six decades of involvement at the ever-morphing transport business Trencor. Neil and Cecil are the sons of the late Joe Jowell, who founded Trencor – then trading as Jowells Garage and Transport – as a humble motor dealership and one truck transport business in Springbok in the late twenties.

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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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The Foschini Group finds online footing

  • Published in Retail

The last few years have not been easy for South African clothing retailers. A sluggish economy, increased competition from foreign chains, and the growing prominence of online retailers have chipped away at their dominance in the local apparel market.

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TFG cashes in

  • Published in Retail
Parow-headquar­tered fashion retailer The Foschini Group (TFG) is making re­markable progress in its strategy to drive its cash-based sales. The most compel­ling evidence of a plan working is that TFG’s Rewards pro­gram now boasts cash reward customers of more than 3,6 million. In the financial year to end March TFG’s cash sales grew almost 20% compared with 16% in the previous financial year.
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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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Rextru sees red

SALT-RIVER-based fashion retailing house Rex Trueform (Rextru) – which owns the Queenspark chain - slipped into the red in the year to end June. After a shabby interim showing the company

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Pep in its step

  • Published in Retail

In the six months to end December 2013 Pepkor – which is still aligned to founder and Cape tycoon Christo Wiese - reported that low cost fashion retailer Pep opened 51 new stores to bring its store numbers countrywide to 1528.

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