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S&V Weekly Newsletter Vol. 4 No. 44, Nov 5, 2018

This Newsletter is sponsored by SAFLIA

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

 

Truworths sales up 4.5% for third quarter

Johannesburg (SA) – The JSE Stock Exchange News Service (SENS) published the following business update for Truworths International on October 24:
       Truworths International Limited (the ‘Group’) announces that retail sales for the first 16 trading weeks (2 July 2018 to 21 October 2018) of the 2019 financial period (‘the current period’) increased by 4.5%# to R5.3 billion compared to R5.1 billion for the first 16 trading weeks (3 July 2017 to 22 October 2017) of the 2018 financial period (‘the prior period’).
       Account sales comprised 50% (2018: 50%) of Group retail sales for the current period, with account and cash sales increasing by 4.9%# and 4.1%# respectively relative to the prior period.
       Retail sales for Truworths (being the Group, excluding the UK-based Office segment) increased by 3.6%# to R3.8 billion relative to the prior period’s R3.7 billion. Account sales comprised 70% of these retail sales (2018: 69%). Trading space increased by 1.9% on the prior period and is expected to increase between 2% and 3% for the full 2019 financial period. Comparable product deflation (i.e. excluding Loads of Living acquired in October 2017) averaged 1.1% for the current period.
       Retail sales for the Group’s UK-based Office segment increased in Sterling terms by 0.5% to £83.3 million relative to £82.9 million for the prior period. In Rand terms however, retail sales for Office increased by 6.7% to R1.5 billion, aided by Rand weakness. Trading space decreased by 1.0% on the prior period and is expected to remain at this level for the full 2019 financial period.
       The Group’s gross trade receivables* at the end of the September 2018 retail period decreased by 2.3% to R5.5 billion compared to R5.7 billion at the end of the September 2017 retail period. The number of active accounts increased by 3% relative to the September 2017 retail period-end, while the percentage of active account holders able to purchase and overdue balances as a percentage of gross trade receivables remained unchanged at 85% and 13% respectively.
       Although the trading environment is expected to remain challenging, the Group will continue to utilise its extensive experience to manage the risk of fashion through its proven merchandise design and buying processes and manage the risk of the book through continuing to apply strategies to ensure the on-going health of the portfolio.
       Shareholders are advised that this business update does not constitute an earnings forecast, that the financial information provided herein is the responsibility of the directors, and that such information has neither been reviewed nor reported on by the Group’s external auditors. The Group’s interim results for the 26-week period ending 30 December 2018 are scheduled for release on or about Thursday, 21 February 2019.

# The end-of-winter-season sale commenced in week 1 of the current period, unlike the prior period when the end-of-winter-season sale commenced in week 53 of the 2017 reporting period. Accordingly, the first 16 weeks’ trading of the current period is not directly comparable to the first 16 weeks’ trading of the prior period.
* All trade receivables information is as at the end of the Group’s September 2018 retail period, which ended on 30 September 2018. Comparative trade receivables information is as at the end of the September 2017 retail period, which ended on 1 October 2017. - http://196.30.126.229/v2/scripts/News.aspx?c=TRU

 

 

Death Notices

Johannesburg (SA) – Kishorbhai Ranchod, formerly of mini-chain Just For Feet, died last week.

Cape Town (SA) – Jon Bolton, formerly of Olympic-Flair and Issa Brothers, died on June 19, aged 75.

 

 

Send us the links

We renew our invitation to send us links to websites, Facebook pages and the like which readers feel are of interest to others. These websites are from our database:
African Ostrix, Somerset West, SA. Ostrich leather goods manufacturer: https://www.africanostrix.co.za/

African San Taxidermy Studio, Paarl, SA. Game trophies and game skin handbag manufacturer: http://www.africansan.com/

 

They Said It

"Don't worry. We're also a 'Last Minute Dot Com' team sometimes." - Hi-Tec Sports Distributors marketing manager Jo Esterhuizen, letting me off the hook for a very late request for ad material.

" no no sir…. You have it wrong…. We just want our shoes to do the talking…. Walking…. " - Eleni Gerpinis of Woodland boot distributor Earth Gear on why she and MD Derek Meano weren't being camera shy when they sent photos of footwear instead of themselves. The article appears in S&V Footwear & Leather Goods this week.

 

 

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
15/09/2018 R17.37 R19.54 R14.94 R2.17
22/09/2018 R16.82 R18.72 R14.33 R2.08
29/09/2018 R16.46 R18.47 R14.17 R2.06
06/10/2018 R17.06 R19.43 R14.80 R2.15
13/10/2018 R16.81 R19.12 R14.53 R2.10
20/10/2018 R16.64 R18.87 R14.43 R2.08
27/10/2018 R16.68 R18.76 R14.62 R2.10
03/11/2018 R16.28 R18.55 R14.30 R2.07

 

 

 

 

05/11/1988: Jacques van As, Le Croc, Brits.
06/11/1950: Idris Kajee, Favourite Sports, Newcastle.
07/11/19??: Garth Ribbinck, A Greenaways Natal, Durban.
07/11/1966: Leslie Govender, Godvast, Durban.
07/11/1971: Ajay Singh, United Agencies, Durban.
08/11/1959: Ashmore Matemera, DyStar Boehme Africa, Harare, Zimbabwe.
08/11/1967: ISW Smit, Clarens Curio, Clarens.
08/11/1974: Louis de Sousa, Price Rite, Welkom.
09/11/1938: Johnny Makrides, Intershu Distributors, Johannesburg.
09/11/1963: Sanjay Pattundeen, Caprini Footwear, Durban.
09/11/1972: Chrisi Janse van Vuuren, Chrisi Artwear, Harrismith.
09/11/1977: Darrell Naidoo, Sidekicks, Alberton.
10/11/1961: Granville Steyn, DyStar Boehme Africa, Pietermaritzburg.
11/11/1940: David Chasi, Zambezi Tanners, Bulawayo.
11/11/1941: Brian Gurney, retired, formerly Watson Shoes, Great Brak River.
11/11/1947: Trevor Espey, agent, Cape Town.
11/11/1951: William Scalco, LTE, Cape Town.
11/11/1961: Wayne and Anthony Matthysen, WAM Agencies, Durban/Johannesburg.
11/11/1963: Thammo Schull, Capcorv Recycling, Germiston.
11/11/1964: Jacoba Nel, Conloo Joinery, Welkom.

 

In Memoriam this week

05/11/1998: Bob Gould, SB Agencies [closed], Pinetown.
05/11/2013: Brian de Bruin (b. 26/09/1941), DB Components, Durban.
07/11/2004: Ralph Mossop (b. 04/12/1913), Mossop & Son (now Mossop Western Leathers), Cape Town.
08/11/1993: Roy Lagerwall, Saxian Trading, Johannesburg.
09/11/2004: Trevor Rink (b. 15/08/1947), Cuthberts/Boyman’s [both closed], Johannesburg.
10/11/2013: Barry Nash (b. 06/09/1952), King Tanning [closed], and Buckman, Port Shepstone.

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 2/11: Hides & skins prices

In general the hide market remains under pressure. The market for the middle/low grades keeps on falling. The situation remains negative; unlike the crisis in 2008 which was related to the global financial situation; this market situation is a result of the fundamentals behind leather – prices and consumer choices have led to the situation of supply exceeding demand. Overall, the hide market sentiment is bearish, in line with the weak international hide market. The average hide price over the past week was R4.82/kg green. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. On October 10, the average price for Dorper skins was R31.11, and for Merino skins was R92.60.

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
07/09 4.61 35.45 95.18
14/09 4.65 30.00 99.36
12/10 5.00 30.56 95.00

 

Upcoming Trade Fairs

The SLTC 2019 Conference will be held on April 27 at the Park Inn, Northampton. See our website for details.

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

 




Top safety brand seeks consultant

Safety Footwear consultant required to work on a consultancy basis with existing business. Must have knowledge of NRCS approvals process.
admin@barglobal.co.za




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: November 12, 2018.

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

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Our website www.svmag.co.za

 

 

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