Choppies records 69% drop in revenue
Retail group Choppies says the currency volatility in Zimbabwe had a severe knock on effect on the business which resulted in revenue falling by P1,1 billion ($6,71 billion) or by… Read more »
Category: Retail
Choppies stock resumes trading
GABORONE. – Trading in shares of budget retailer Choppies resumed on the Botswana Stock Exchange (BSE) yesterday after a 20-month suspension following the company’s failure to publish its financial results…. Read more »
James Makamba Determined To Rebuild His Blue Ridge Supermarkets, Says The Mazowe Branch Will Open In 45 Days
Businessman and former broadcaster James Makamba has revealed that his supermarket Blue Ridge Sweet Valley Supermarket in Mazowe will open in 45 days, The Sunday Mail reports. The businessman who… Read more »
Edgars extends capital raise period
The closure of the Zimbabwe Stock Exchange has forced Edgars Stores Limited to extend its rights offer period by an additional three weeks. The clothing retailer and manufacturer is currently… Read more »
Mangudya Says Prices Should Be Linked To Exchange Rate
Reserve Bank of Zimbabwe (RBZ) Governor John Panonetsa Mangudya has implored all businesses to exercise self-discipline in pricing to avoid forcing authorities to take action. Mangudya issued the warning to… Read more »
RBZ warns greedy retailers
THE Reserve Bank of Zimbabwe (RBZ) says it is highly impressed with how the foreign currency auction has helped stabilise prices and the exchange rate, but expressed strong reservations over… Read more »
Edgars appoints new CEO
LISTED clothing retail chain, Edgars Stores Limited has appointed a new chief executive officer Ms Tjeludo Ndlovu taking over from Mrs Linda Masterson who has retired. The appointment is with… Read more »
Pricing is more than following the rate
Foreign exchange markets appear to be stabilising, at least by recent Zimbabwean standards, and this stability is in both the auction market, where the rate is rising slightly each week,… Read more »
Retailers Hurt By Ecocash Transaction Limits
The suspension of EcoCash bulk transactions and the restriction of Ecocash transactions by the Reserve Bank of Zimbabwe (RBZ) has resulted in reduced business for retailers, analysts have observed. Last… Read more »
Edcon extends deadline
Edcon’s administrators extended a deadline for offers for the three main divisions of South Africa’s second-largest clothes retailer, whose sales suffered from pandemic restrictions. Binding offers are now expected in… Read more »