3 of 2024

 

 Newsletter No 3/2 February 2024

                          

To all manufacturers, suppliers and wholesalers:-

We are finalising the updating of our Sourcing Directory for the year.

Look under your category and see if you would rather like to update your l liner to a business listing which gives a description of your business, branches, brands, agents, more than one contact number, website information etc for a minimal fee of R1300 for the entire year and if you like you can add a logo to that for an additional R440.

Let us know if you want us to give you a call…. carla@newsbriefs.co.za

                

Click on any ad to go to the advertisers website.

Truworths’ first-half sales up 8%, lifted by UK Office shoe chain

By Andries Mahlangu

A Truworths Man store is shown at the Mall of Africa at Midrand in Johannesburg. File photo: Freddy Mavunda/Business Day

Sales in the mainstay SA business fell 0.3% to R8.4bn after Truworths tightened the screws on credit

Fashion retailer Truworths said on Monday that its total sales grew 8% to R12.2bn in the six months ended-December, boosted by the UK business, which countered the stagnation in its core SA market.

Its Office shoe chain in the UK grew sales 16%, or 33% in rand terms, to R3.1bn, benefiting from what the company said were its unique market positioning, brand partnerships and strong online presence.

Online sales contributed about 47% of Office’s retail sales during the reporting period, up from 44% in the same period a year ago.

However, sales in the mainstay SA business fell 0.3% to R8.4bn after Truworths tightened the screws on credit in the light of the apparent deterioration in the macroeconomic picture, which played out in the erosion of consumers’ disposable income.

More than two-thirds of its SA customers buy on credit while cash sales make up the balance.

The muted sales volumes was also against a high base set in the prior comparable period when sales rose 13.4%, according to Truworths, which owns an assortment of clothing brands, including Daniel Hechter and Identity.

“Credit extension declined as scorecards reacted to the deteriorating credit health of the SA consumer, thereby weighing negatively on credit sales,” the company said in a statement.

“Furthermore, port congestion challenges in SA resulted in lower-than-expected merchandise deliveries for the December period.”

Account sales, comprising 70% of retail sales, were unchanged and cash sales dropped 0.9% year on year.

Against that backdrop, Truworths expects headline earnings per share to rise by up to 4% on an annual basis.

For the three months ended-December, group retail sales dropped 1.6% to R4bn.

Its shares were up 1.40% to R76.02 in early trade on the JSE, having risen nearly 13% on a one-year view, according to data compiled by Infront.  

Moschino appoints Adrian Appiolaza as new creative director

Source: https://twitter.com

Moschino has named Adrian Appiolaza its new creative director, overseeing women’s, men’s and accessories collections at the Aeffe-owned house, reporting to Aeffe executive chairman Massimo Ferretti.

Appiolaza succeeds Davide Renne, who was hired from Gucci to replace longtime Moschino designer Jeremy Scott, but died suddenly in November 2023 – just days of taking on the new role.

Appiolaza joins Moschino from Loewe, where he spent a decade working under Jonathan Anderson as women’s ready-to-wear design director. Previously, he held the same position at Chloé working under Clare Waight Keller.

“Adrian brings with him a unique wealth of experience, creativity and knowledge of the history of fashion that will be instrumental to write a wonderful new chapter in the adventure of the brand founded by Franco Moschino,” Ferretti said in a statement.

Appiolaza will present his first collection for the house on 22 February 2024 at Milan Fashion Week.   Bizcommunity

Pick N Pay Appoints New Head of Retail, Restructures Exec Team

Group CEO Sean Summers has appointed his senior leadership team as a key step in the drive to return Pick n Pay supermarkets to growth whilst ensuring the Online, Boxer and Clothing growth drivers continue to deliver. Pick n Pay will undergo an immediate structural adjustment to allow it to focus with clarity on customers, buying, store execution and the store estate.

Group CEO Sean Summers has appointed a Group Executive of six members, with a strong mix of experience and energy. Three of the Group Executive are women, including Group CFO Lerena Olivier, Chief People Officer Thembi Mbengashe, and Managing Executive for Clothing Hazel Pillay.

Dallas Langman has been appointed to the newly created position of Managing Executive of the Pick n Pay Retail Division. Langman (54) has been with the Group for 34 years, having most recently been Managing Executive of the Rest of Africa division. Prior to this, his extensive experience includes senior management roles within Pick n Pay Supermarkets, Hypermarkets, and Franchise. Langman is respected for his ability to drive consistent operational standards and team performance, and will work closely with Summers to lead a step-change in the performance of the core Pick n Pay retail business.

Johan Grobler will take over Rest of Africa leadership from Dallas and will have additional responsibility for Value Added Services and Tomis, the newly acquired meat producing and processing facility. Grobler (57) has been with the Group for 32 years, most recently being Head of Fresh Produce and Trade within Pick n Pay Retail. Marek Masojada remains Boxer Managing Executive.

These six appointments are from within the business, enabling senior executives to hit the ground running in their respective portfolios. Streamlining reporting lines allows Summers to lead effectively, focused on the future, with highly experienced retailers reporting directly to him in six focused areas.

Said Summers: “These changes will allow us to focus with clarity on the job at hand. This includes creating a new, dedicated head of Retail, regionalising our Retail division to allow a much sharper focus on our customers, and the creation of a dedicated Commercial section to focus on our products across the retail spectrum.”

The new Pick n Pay Retail division will focus on retail at Pick n Pay, which needs the most attention. PnP Retail is effectively a standalone business, with Franchise now falling under it. “This will mean that the actual trading in franchise will fall under Retail, which is where it should be. The customer will now see one Pick n Pay with the same execution and the same operational standards as corporate owned stores. It will now be a seamless experience for customers.

“Relationships with our suppliers are strengthening at pace. The new Commercial division under Pick n Pay Retail will enjoy the attention of two seasoned experts in buying across Food, Fresh and General Merchandise.

“Hazel has produced stellar results at Clothing and her position on the Group Executive is well earned.”

“Boxer is an incredible business and Marek has done a superlative job. We foresee even greater things for Boxer under his continued leadership.”

Thembi Mbengashe heads up HR for Retail, and services the Group Executive team. She will work closely with Summers on succession planning for the CEO and the entire senior management team, with a keen focus on our transformation objectives.

Five regional heads have been appointed to get much closer to customers, as well as a head of Retail Hypermarkets. The regions are where the trading decisions will now be made.

“With six reports, I can now focus properly on the next three years and build for the future. The new structure will enable clarity of leadership across our business, with seasoned professionals in charge,” said Summers. “Our people have been moved into position and will now be playing to their strengths.”  African Retail

Mr Price – trading update

During the third quarter from 1 October 2023 to 30 December 2023 of the financial year ending 30 March 2024, the group recorded growth in retail sales of 9.9% to R13.2bn. Comparable store sales were up 4.1%. The total comparable market’s retail sales per the Retailers’ Liaison Committee (RLC) grew 3.4%, resulting in the group gaining 130bps market share over the Period.

The store footprint increased by 85 new stores and the group’s total footprint expanded to 2 892 stores. Trading space increased 7.1% on a weighted average basis and 6.2% on a closing basis. Cash sales, which constitute 90.4% of total retail sales, increased 10.5%. Credit sales increased 4.6% as the group’s strict credit granting criteria continued.

Pepkor –voluntary trading update

The group’s discount and value brands continue to resonate with customers, delivering healthy sales growth from a solid base in the comparable quarter last year. Based on the latest RLC data to December 2023, the group expanded overall market share in each month during the quarter and also on a 3-, 6- and 12-month rolling basis. Overall, Ackermans grew market share in December 2023 which represents a significant change in trajectory.

On a 3-, 6-, and 12-month rolling basis:
– PEP gained market share in key categories including babies, kids, school and home;
– Ackermans expanded market share in the school and younger kids categories; and
– Specialty gained share in adult wear.

These positive trends persist despite a challenging macroeconomic and operating environment, with customers facing financial pressure. The significant disruption in port operations, reported in November 2023, continues to have a negative impact on stock inflows. The group’s merchandise and logistics teams have been proactive in addressing delays and implementing solutions to expedite and advance stock inflows.

During the different eras, women applied color to their faces by various means. In Cleopatra’s time, berries and other natural ingredients were used as makeup to enhance the face.

 

Editorial Submission:

Please remember to send me your news so that we can share it with all our readers in the weekly newsletter. Although editorial is neither guaranteed nor implied, suitable editorial for consideration may be submitted to:-