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S&V Weekly Newsletter Vol.4 No.36, September 10, 2018

This Newsletter is sponsored by SAFLIA

Please note: Click on any ad to go to the advertiser’s website

 

Africa performs best for Steinhoff

African operations performed more strongly than other parts of the Steinhoff Group according to the quarterly update for Steinhoff International Holdings NV for the 9 months ended June 30 2018 (9mfy18) (unaudited), published on August 31. Below are extracts from the report:

Revenue from continuing operations (€m)
  Total revenue: Africa Pepkor (separately listed) Automotive
  9MFY18
Unaudited
9MFY17
Unaudited
% change
Total revenue: Africa 4371 4007 9
Pepkor (separately listed) 3205 2955 8
Automotive 1166 1052 11


By comparison, European operations were up to 2% to 5 654, USA operations were down 14% to 1 920, and Australasian operations were up 1% to 963.
       For the nine months ended 30 June 2018, Pepkor achieved group revenue growth of 14% to R48.9 billion on a statutory basis. On a comparable basis, group revenue growth of 9% was achieved. The PEP and Ackermans brands in aggregate reported merchandise sales growth of 8% and like-for-like growth of 3%. Retail space increased by 5% with the opening of 148 new stores (91 PEP and 57 Ackermans) during the period.
       Deflation of approximately 5% in the clothing, footwear and homeware (CFH) product categories within PEP and Ackermans continued to weigh on sales growth. Volume growth of 10% (5% on a like- for-like basis) supported performance. The impact of deflation on CFH sales growth is expected to reduce during the fourth quarter of the 2018 financial year. The month of July showed particularly strong like-for-like performance.
       PEP Africa, comprising approximately 4% of group revenue, continues to experience challenging operating conditions in addition to deflation. Positive merchandise sales growth of 4% was reported. Like-for-like sales performance improved during the third quarter, resulting in a decline of 15%, compared to a decline of 16% reported for the six months ended 31 March 2018. Strong merchandise sales growth momentum, on a comparable basis, continued in the speciality fashion and footwear brands, reporting growth of 14% and like-for-like growth of 7% in aggregate.
       The interim management team at Tekkie Town has successfully stabilised the business and operations continue to operate in line with expectations. The furniture, consumer electronics and appliances brands continued to perform well.
       Steinhoff has more than 40 local brands in over 30 countries.
       The group’s full brand complement includes: Abra, Ackermans, Bensons for Beds, Best&Less, Bradlows, Buco, Conforama, Dealz, Dunns, Emmezeta, Fantastic, Flash, Floors Direct, Freedom, Harris Scarfe, Harveys, Hertz, HiFi Corp, Incredible Connection, John Craig, Lipo, Mattress Firm, OMF, Pep, Pep Cell, Pep Home, Pepco, Pep&Co, Plush, Postie, Poundland, Powersales, Refinery, Rochester, Russells, Shoe City, Sleepmasters, Snooze, Tekkie Town, Tiletoria, Timbercity and Unitrans Automotive.
       For the full report, visit: Source

 

 

Chic assets to be auctioned

Cape Town (SA) – The assets of Chic Shoes, which went into liquidation in January owing the IDC R70 million, will be auctioned on October 9, joint liquidator Jochen Eckhoff confirmed last week.
       He said the liquidators had not received any offers for the business. There was at least 1 offer for some of the assets, but it was "unacceptable".

 

 

Froggie founder hands over control

Durban (SA) – Michelle Footwear co-founder Mike Gedye, who is very ill with cancer and is also suffering from the effects of diabetes, has handed over control of the company to a team headed by his son, Warren.
Michelle manufactures the women's comfort brand, Froggie.

 

 

PQ out of business rescue

Johannesburg (SA) – Low-priced and unbranded clothing and footwear chain PQ Clothing Outlet, which emerged from business rescue recently, now has 20 stores in Gauteng and 1 in NW Province, according to its Facebook page, down from 41 in Gauteng, Limpopo, Mpumalanga and North West Province.
       MD Greg Horwitz has taken over the business, previously owned by his father, Lionel.

 

New MD for DyStar Boehme

Pietermaritzburg (SA) – Graham Bowran has been appointed MD of tanning and textile chemicals manufacturer DyStar Boehme Africa. An article will be carried in the next issue of S&V African Leather.
       Former MD Ron Clancy said he was exploring emigration options. He is currently in New Zealand.

 

 

They Said It

"Please can we have a translation?" - Italian Leathers' Lionel Astill, talking about the DTI 'Master Plan', of which we carried extracts in the last S&V Footwear & Leather Goods Magazine, with a link to the full report.

"Hi Tony, you may wish to revise your exchange rate table for importers a little earlier after today's figures. Luckily we only have a 1st floor at our premises. There is a mezzanine I am considering though......." - Rob McCann, MD of PPE distributor (and safety footwear importer) Treadsafe.

"I always said I'd be the last one left. They must be singing with the angels, but I wouldn't want to hear the choir, because some of them couldn't sing." - Bev Phillips, retired former PA to SEVEN Bata SA company managers, and honorary life president of the Bata SA Old Boys & Girls Club, after hearing about the death of Sid Finlayson.

 

 

Death notice

Great Brak River (SA) – Sid Finlayson, former MD of Futura Footwear (now Bata SA) and Bolton Footwear, died on September 2.

 

Cobblers' Lunch to be held in October

Cape Town (SA) – The organisers of the annual Cobblers' Luncheon have announced that this year's event will be on Saturday, October 20, starting at 12h00, at the Goodwood Sports Club, Cape Town. Contacts are Voden Wearne (+27 (0)21 551 4032, Voden.Wearne@apeco.co.za), and Anthony Lopez (+27 (0)21 558 7099, info@lopezleathers.co.za).

 

Podiatry congress

Cape Town (SA) – The Podiatry Association of SA (PASA) has announced that it will hold its 12th biennial congress in Cape Town from July 19-21 next year. The convenor and chairperson is Brandon Maggen. - info@pasacongress.co.za

 

Exchange rates

Source: http://www.x-rates.com/calculator/

 
  Euro € GBP £ US $ Yuan Renminbi ¥
11/12/2017 R15.82 R17.99 R13.40 R2.03
05/01/2018 R14.86 R16.69 R12.33 R1.90
13/01/2018 R15.14 R17.03 R12.41 R1.92
22/01/2018 R14.76 R16.75 R12.08 R1.88
26/01/2018 R14.74 R16.79 R11.86 R1.87
05/02/2018 R14.96 R16.89 R12.02 R1.91
12/02/2018 R14.64 R16.51 R11.95 R1.88
16/02/2018 R14.43 R16.30 R11.63 R1.83
23/02/2018 R14.19 R16.12 R11.54 R1.82
05/03/2018 R14.60 R16.39 R11.85 R1.86
12/03/2018 R14.58 R16.43 R11.82 R1.86
16/03/2018 R14.72 R16.70 R11.97 R1.89
23/03/2018 R14.53 R16.60 R11.75 R1.86
03/03/2018 R14.58 R16.62 R11.83 R1.88
11/04/2018 R14.75 R16.91 R11.93 R1.90
16/04/2018 R14.89 R17.23 R12.04 R1.91
23/04/2018 R14.99 R17.11 R12.27 R1.94
30/04/2018 R15.06 R17.16 R12.47 R1.96
07/05/2018 R14.96 R16.98 R12.55 R1.97
14/05/2018 R14.60 R16.54 R12.21 R1.92
22/05/2018 R14.84 R16.92 R12.61 R1.97
28/05/2018 R14.47 R16.55 R12.43 R1.94
04/06/2018 R14.70 R16.78 R12.54 R1.95
11/06/2018 R15.46 R17.55 R13.10 R2.04
18/06/2018 R15.63 R17.83 R13.45 R2.09
25/06/2018 R15.89 R18.05 R13.60 R2.07
02/07/2018 R16.10 R18.18 R13.87 R2.08
09/07/2018 R15.79 R17.90 R13.41 R2.02
16/07/2018 R15.45 R17.50 R13.19 R1.97
23/07/2018 R15.82 R17.72 R13.52 R1.99
28/07/2018 R15.36 R17.26 R13.17 R1.93
04/08/2018 R15.40 R17.31 R13.31 R1.94
11/08/2018 R16.11 R18.02 R14.11 R2.06
18/08/2018 R16.75 R18.67 R14.64 R2.13
25/08/2018 R16.56 R18.29 R14.23 R2.09
01/09/2018 R17.09 R19.07 R14.72 R2.15
08/09/2018 R17.64 R19.71 R15.26 R2.23

 

 

 

11/09/1938: Roley Rogers, footwear agent, Johannesburg.
12/09/1940: Tony Mason, retired, formerly Resolute Engineering [closed], Cape Town.
12/09/1950: Ivor Cohen, agent, Cape Town.
12/09/1994: Fern LaHoud, Chillisource, Durban.
13/09/1958: Mark Gibbings, Apeco, Pinetown.
14/09/1941: Rob Jordan, retired, formerly Jordan Shoes, Cape Town.
14/09/1943: B Oerder, Bolt Leather, Bedfordview.
14/09/1955: Rafiq Hajat, Footwear Centre, Malawi.
14/09/1968: Nasser Narot, Shoe Preme, Durban.
14/09/1983: Ridhwana Shaik, Save Our Soles Manufacturing, Lenasia.
16/09/1965: Roy Feigenbaum, Superior Leather, Bramley.

 

In Memoriam this week

11/09/1998: Harry Chafkin, Chafkin's Shoe Co, Benoni.
11/09/2008: Robbie Chapman (b. 10/08/1957), Canterbury International SA [closed], Cape Town.
12/09/2015: Ingo von Falkenhausen (b. 14/12/1931), Cheval Shoes, Pinetown.
13/09/2015: Heinz Adrio (b. 19/08/1940), Busby Leathergoods, Adrio Leathercraft, Durban.
15/09/1995: Andy Bax, NPI, Durban.
15/09/2013: Bruce Mallett (b.27/06/1952), Simply Shoes, Johannesburg.
15/09/2014: Fred Eboru (b. 01/10/1947), Fred Footwear, Port Elizabeth.
15/09/2016: Franco Polia (b. 01/01/1937), designer, Durban.

Have you let us know about your birthday, or the birthdays of your colleagues? Our readers love this section, so please become part of it. This also applies to the In Memoriam section. Help us remember former colleagues.

 

ABSA Agri Trends 07/09: Hides & skins prices

The average hide price over the past week was R4.61/kg green. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. The average price for Dorper skins was R35.45, and for Merino skins was R95.18.

Hide & skin price progression
Date Hides/Kg Dorper/Skin Merino Skin
19/01 15.34 45.56 81.38
24/01 15.17 40.92 89.52
31/01 15.10 46.00 94.55
14/02 14.65 47.33 95.29
15/03 14.25 39.30 78.75
24/03 14.13 45.27 94.45
28/03 14.07 45.27 94.45
04/04 14.83 41.92 87.58
11/04 14.68 41.92 84.12
19/04 14.77 43.85 92.32
25/04 14.75 41.25 92.27
04/05 14.79 43.33 92.69
10/05 14.75 40.50 88.41
16/05 14.58 40.83 90.96
31/05 14.62 40.50 87.95
09/06 14.58 41.82 96.35
23/06 14.40 40.42 101.25
29/06 14.30 41.36 98.44
07/07 14.33 43.33 100.94
13/07 14.37 44.44 114.58
28/07 14.14 43.64 97.50
04/08 14.16 43.69 99.64
14/08 14.08 38.99 92.75
18/08 13.70 43.18 98.96
25/08 13.93 43.75 100.96
01/09 13.14 44.09 101.25
08/09 12.88 41.82 100.83
21/09 12.64    
03/10 12.50    
11/10 12.52    
20/10 12.23 39.30 110.23
27/10 12.12 37.30 94.32
02/11 12.19    
10/11 12.24 37.00 101.75
30/11 11.82 32.56 94.25
07/12 11.76 35.50 92.50
14/12 11.53 35.50 91.86
02/02 10.39 32.50 92.22
09/02 10.17 33.13 91.27
16/02 9.94 32.50 88.26
16/02 9.94 32.50 88.26
16/03 9.62 33.75 90.50
23/03 9.56 32.22 87.63
06/04 8.86 36.67 82.50
13/04 8.98 35.00 81.25
23/04 8.40 35.13 86.00
26/04 8.18 34.13 86.11
07/05 7.89 33.33 83.13
18/05 7.71 33.50 82.22
25/05 7.78 31.38 86.06
01/06 7.74 30.71 95.89
08/06 7.43 31.67 87.50
15/06 7.67 32.11 87.40
22/06 7.60 32.50 86.70
29/06 7.13 32.78 86.50
06/07 7.04 32.14 86.67
27/07 5.85 40.56 96.83
10/08 5.32 34.44 87.10
23/08 5.34 36.00 91.00

 

For a list of local and international trade fairs covering footwear, leather goods, leather and PPE, visit our website: http://www.svmag.co.za/events.php

  


Classified Adverts

 




Sales Rep wanted for Western Cape

To cover Cape Town, north up to Vredendal, the central Cape to Beaufort West, and the Garden Route to Plettenburg Bay. You will carry the Angels range of ladies' comfort footwear.
Send your CV to Jeff Bodill, corvari@telkomsa.net.




In need of a boardroom?

SAFLEC, situated at 6 Stedman Mews, 128 Jan Hofmeyr Road, Westville, has a boardroom for hire.
       It seats up to 12 people around a table, and has space to add up to 15 more chairs in the room. You are welcome to view the room before hiring.
       For more information, please contact Louise on 031 266 1473 or louise@saflec.co.za.
We look forward to being of service.




  

Contact us

News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za

Next newsletter: September 17, 2018.

SAFLIA enquiries: Tel 0800SAFLIA * Email info@saflia.co.za * Website http://www.saflia.co.za

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