South Africa

South Africa's Steinhoff Proposes $1bn Settlement To Solve Legal Disputes

South African retailer Steinhoff International said on Monday it had proposed a settlement worth up to around $1 billion (€850 million) to settle a st...

S.Africa's Pepkor Q3 Sales Drop 17% On Lockdown Hit

South African clothing and furniture retailer Pepkor Holdings said on Friday sales for its fiscal third quarter ended 30 June slumped 17.2% after its store...

South Africa's Woolworths Sees Annual Sales Dip As COVID-19 Hits

South African retailer Woolworths Holdings flagged a small fall in annual sales after its non-food stores were shut in the second-half of its financial yea...

South Africa's Distell Plays Chess To Beat Lockdown Wine Glut

At a centuries-old vineyard overlooked by South Africa's Drakenstein mountain, the country's biggest single wine exporter Distell is battling a p...

South Africa's Massmart Says 1,800 Game Jobs At Risk

South African retailer Massmart Holdings Ltd has started talks with unions to cut up to 1,800 jobs at the company's struggling Game stores as constrained s...

S.African Tobacco Firms, Associations Seek Court Action Over Cigarette Sales Ban

A raft of South African tobacco companies, activists and associations are seeking legal action over the ban on cigarette sales during the country's coronav...

South Africa's Pepkor May Scrap Dividend As Pandemic Squeezes Retail Spending

Pepkor Holdings has said it does not expect to declare a dividend for financial year 2020, as it looks to preserve cash to tide over the coronavirus c...

S.Africa's Woolworths Scraps 2020 Dividend As Coronavirus Hit Deepens

South African retailer Woolworths has scrapped its 2020 dividend and left a question mark over future payouts, with difficult trading conditions created by...