17 of 2020

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 Newsletter 17 / 15 May 2020

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Expanded list of clothing now allowed for sale under Level 4

The South African government gazetted updated regulations on Tuesday, 12 May, that allows retailers to sell an expanded list of clothing and bedding items under Level 4 lockdown.

Minister of Trade, Industry and Competition Ebrahim Patel said the new rules are applicable immediately and for the duration of Level 4.

Some of the directives have been described as “bizarre” and include the unbanning of the sale of short sleeve t-shirts, but only if its “promoted and displayed as undergarments for warmth”. And both long and short-sleeved shirts are unbanned, but only when “displayed and promoted to be worn under jackets coats and/or knitwear”.

Full list of clothing, footwear and bedding permissible for sale

• All baby and toddler clothing and footwear

• All children’s wear, including: outerwear, underwear, sleepwear, schoolwear and school shoes, footwear, socks, and “related accessories”

• All maternity wear

• All adult sleepwear and gowns

• All adult underwear

• The following adult footwear categories: boots, slippers, closed-toe heels, closed-toe flat shoes, sneakers and trainers, smart closed-toe shoes and casual closed-toe shoes

• The following adult outerwear categories: activewear (that includes gym, running and other exercise apparel), knitwear, jackets and coats, dresses, long-sleeved tops, long-sleeved t-shirts, denim jeans and denim jackets, pants, skirts, short-sleeved knit tops “where promoted and displayed as worn under cardigans and knitwear”, short-sleeved t-shirts “where promoted and displayed as undergarments for warmth”, leggings, crop bottoms worn with boots and leggings, shirts (either short- or long-sleeved) where displayed and promoted to be worn under jackets coats and/or knitwear, golf shirts, and one-pieces such as bodysuits

• The following adult accessories: shawls and scarves, beanies, gloves, socks, belts, headwear, gym and exercise apparel accessories, and hair accessories

• The following bedding categories: baby bedding and blankets, duvets, duvet inners, blankets, comforters, quilts, mattress protectors, pillows, throws, sheets and pillowcases, and electric blankets

The Minister expressed his appreciation for the positive tone of the engagement with industry stakeholders.

“Restarting more parts of our economy is important and we are working hard to ensure that industry follow best practice to protect health and safety of all our citizens. The discussions with industry builds on the greater cooperation that arose from the Industry Masterplan for the retail-clothing, textile and footwear industry,” said Patel.

He also called on consumers to purchase locally made products.

“I call on consumers to look for South African-made products, made proudly by local workers, so that we can rebuild the economy. The manufacturing and retail sector has been through a very difficult time and the resumption of clothing sales under Level 4 of the new risk-adjusted approach, will assist to provide greater levels of production and commerce in the sector,” he said.

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SA’s clothing retailers welcome directives from Patel

Anthony Thunstrom, CEO of TFG and chair of the National Clothing Retail Federation

Major clothing retailers have welcomed the additional directives issued yesterday by Minister of Trade, Industry and Competition Ebrahim Patel, on the type of clothing, footwear and bedding which may be sold during the Level 4 lockdown.

The categories permissible for sale cover baby and toddler clothing and footwear, all children’s wear, maternity wear, adult sleepwear, underwear and footwear as well as outwear categories such as gym, running and other exercise apparel, winter wear from jackets and coats to leggings and headwear, and bedding such as duvets, blankets, quilts, pillows and sheets.

The National Clothing Retail Federation (NCRF) whose members include TFG, Mr Price, Truworths, Woolworths, Pick n Pay Clothing and Queenspark, has called on the clothing retail sector to take advantage of the opportunity to be trading essential goods.

“The federation has participated in a robust engagement with government and stakeholders to construct the list of essential consumer items for winter clothing and textile items. The leadership of Minister Patel has been appreciated throughout the consultations.

“The NCRF calls on the clothing retail sector to offer retail environments that adhere to strict health protocols to help mitigate the transmission risks of Covid19,” said Anthony

Michael Mark, CEO of Truworths, said clothing retailers are appreciative of the round-the-clock efforts the Minister and his team have put into this task and the consultative approach that they have taken.

“I have been extraordinarily impressed with the Minister’s handling of the regulations relating to the complexities of opening retail stores to sell winter clothing. His unwavering focus was on protecting the health of South Africans during the cold winter months,” Clark said.

Mark Blair, CEO of Mr Price Group, commented “We are most appreciative of the manner in which the Minister and his advisors have applied and conducted themselves. An outcome which will ensure a wide range of winter clothing will be accessible to all is surely the correct one. This will protect our country’s citizens in the upcoming winter months”.  Bizcommnity

Massmart – arrangements for AGM

Shareholders are referred to the announcement released on the Stock Exchange News Service on 15 April 2020 whereby Massmart notified its shareholders of the annual general meeting to be held at 09h00 on Thursday, 21 May 2020. In light of COVID-19 measures put in place by the South African Government, shareholders are advised that Massmart’s annual general meeting will be held in electronic format only and in accordance with the provisions of the Companies Act, 71 of 2008.

Pick n Pay final results 1 March 2020

Revenue for the year increased to R91.323 billion (2019: R90.237 billion), gross profit climbed to R17.602 billion (2019: R16.857 billion), trading profit rose to R3.148 billion (2019: R3.055 billion), profit for the period lowered to R1.195 billion (2019: R1.445 billion), while headline earnings per share narrowed to 287.89 cents per share (2019: 300.58 cents per share).

Dividend
In light of the current economic upheaval from the COVID-19 pandemic, the Board has decided that it would be prudent not to declare a dividend at this time but rather to preserve cash. It is anticipated that a formal dividend declaration will be considered and communicated once the full impact of the COVID-19 pandemic on the Group’s operations can reasonably be known and assessed. But for the pandemic, the Board would have declared a final dividend of 173.06 cents per share, maintaining the Group’s dividend cover of 1.3 times Comparable Headline Earning per Share on a 52-week basis. Further communication in this regard will follow at the time of the Group’s FY21 interim result publication.

Did you know……..

Signature Suit

Coco Chanel designed the signature “Chanel Suit” in the 1920s, and often wore it paired with a short-cropped haircut. The suit was designed for comfort and mobility, and featured rather “masculine” lines for the time. The suit was widely criticized at the time, but the suit was re-debuted in 1954, when it became a massive hit. The Chanel Suit became hugely famous, and was popularized by style icons like Jacqueline Kennedy.

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