Retail Sector

Wal-Mart Brings Happiness for Its Consumers

Wal-Mart Brings Happiness for Its Consumers

According to an economist, Mike Schussler, it was found out that the Wal-Mart deal has brought happiness on the consumer faces in South Africa as this deal will bring many opportunities for these consumers.

He says, “It's some good news for once, all we've had is the bad news - the toll road fees, electricity and water price increases. I am glad that the threats did not win – I am glad that opportunity won. In a sense the deal will help the inflation rate - it might not come down but it will make a bit of a difference."

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Walmart’s entry expected to increase food imports

Walmart

It is speculated that the South African food manufacturers will feel the effects of the entry of Walmart in the market. Walmart is a well known retail company and finds its place among the global retail giants all around the globe. It is also expected that the Walmart will now import food that are relatively cheaper. Hence it will adversely affect the business of the local manufacturers of food. Whitey Basson who is the chief executive officer of the Shoprite showed concerns about the security of food. He said in a statement yesterday that it was quite worrying that the

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Retailers do compete - probe

Retail Sector

The Competitive Commission has cleared the market for the industry of all the allegation which were mostly anti competitive in nature and it was the main reason which had caused the commission for a long haul at the investigation process.

Clicks group recorded a record sale

Massmart

Yesterday, the Clicks group reported a 16,8% hike in sales for the last eighteen weeks of last year, as the brand gained market share in core merchandise categories.

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The entire issued capital of Attfund Retail can be purchased by Hyprop

Hyprop Investments

Today, Hyprop Investments, the property fund announced that it has reached an in principle agreement with the board of Attfund Retail for acquiring Attfund Retail's entire issued capital for the sum of 8,98 billion rand . The agreement has less value that the firm's debt.

The property investment firm will make the investment by issuing one hundred and twelve million Hyprop combined units at fifty four rand per unit, totaling an amount of 6, 04 billion rand. The rest amount will be paid in cash.

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