Footwear Industry News
Cry the beloved Zimbabwe - and a curry hint
In reaction to the article on Zimbabwe in S&V Footwear & Leather Goods on Friday, retired former PMC director Dieter Zettler wrote: "Like many others I feel deeply about the country as it was part of my sales portfolio between 1965 and 1975 when Rolf [Oltmanns] took it over. At the height of it, Bata in Gwelo produced 40 000 pairs per day – partly because of the tekkie plant. They also had their own rubber plant and tannery. The staff was highly motivated and educated with a lot of line managers being Zimbabweans. R.K. Footwear installed the most modern machinery on par with Europe at that stage and Footwear & Rubber the first 2 station, direct injection moulding machine working with uppers on wooden lasts. Their joint MD, Otto Roubicek, did of course lay the foundation for Bata’s first factory in Africa if I am not mistaken in 1936. But remember all my comments are from a 78 year old. "PS: I am rambling on. Kogie Naidoo, who was Roy Eckstein’s receptionist at Jaguar Shoes, moved on to the office staff of Hilton College and if you by any chance visit the Hilton Art Festival this coming weekend, you will find her operating a food stall with excellent curry in the main catering tent."
Retail last week: Comment from 5 retailers on Saturday 31/08/2019
"We did a bit better this week, partly because it's the end of the month, and partly because it's looking a bit brighter. It's been a tough year." - Zoonate Alli, partner, G. Nabee & Co., Lichtenburg, NW Province, SA. Independent, 2 stores, family outfitter.
"Friday was reasonably busy, today has been quiet, although we had expected the week to be busier because of month end. We're not yet seeing an improvement." - Yunus Osman, member, Gaby's Gear, Pretoria, Gauteng, SA. Independent, 1 store, men's and women's outfitter.
"Reasonable. I know most other people are complaining, but I'm grateful for the way things are going at the moment. Overall the year has been reasonable so far." - Zaakir Gani, Gani's Sports World, Klipfontein, Mpumalanga, SA. Independent, 1 store, sports specialist.
"Down. Very disappointing for month end. The economy has got worse and worse every year since the World Cup." - Yunus Gani, member, Gani's, Johannesburg, Gauteng, SA. Independent, 1 store, department store.
"Very bad. The first part of the year was okay, but for the past 2 months it's been down." - Jay Patel, member, Gardinia Stores, Johannesburg, Gauteng, SA. Independent, 1 store, general dealer.
Handbag trend seminar
Cape Town, W Cape, SA – The Footwear & Leather Industry Cluster (FLIC) and co-sponsors SAFLEC, eThekwini Export Programme, Wesgro and the SA Ostrich Business Chamber (SAOBC) will hold a 5-day collection workshop and trend seminar for the handbag sector in Cape Town from October 21-25.
It will cover the 2020/2021 spring/summer season with a brief overview of 2021/2022 autumn/winter trends.
The seminar will run by Arsutoria trainer Maria Cristina Rossi.
It will be held at InvestSA One Stop Shop Boardroom, 46 St Georges Mall, Cape Town. For further details, contact: email@example.com
Mr Price - results of AGM
Durban, KZN, SA (August 29, 2019) – Shareholders are advised that at the Mr Price Group Annual General Meeting ("AGM") held yesterday, Wednesday, 28 August 2019, all the ordinary and special resolutions as set out in the notice of AGM dated 11 June 2019 were passed by the requisite majority of votes of shareholders present in person or represented by proxy.
The Group strives to apply its remuneration philosophy of "partnership" consistently and appropriately and will continue its efforts to engage with shareholders to understand more fully the concerns around the remuneration policy and implementation thereof. Accordingly, shareholders are invited to advise the Group of their reasons for their dissenting votes on the remuneration policy and/or the implementation thereof, and whether they wish to engage with the Group on these issues. Correspondence in this regard should be addressed by email to the Head of Investor Relations, Matthew Warriner (firstname.lastname@example.org), by 30 September 2019. Thereafter the date and time of requested engagements will be scheduled with shareholders individually.
Woolworths final results June 2019
Cape Town, W Cape, SA (August 29, 2019) – Revenue for the year increased to R75.179 billion (2018: R70.572 billion), gross profit climbed to R27.964 billion (2018: R26.892 billion), operating profit lowered to R5.121 billion (2018: R5.259 billion), loss attributable to shareholders of the parent narrowed to R1.086 billion (2018: loss of R3.550 billion), while headline earnings per share lowered to 342.9 cents per share (2018: 346.3 cents per share).
Dividend: The board of directors has declared a final gross cash dividend per ordinary share of 98.5 cents (78.8 cents net of dividend withholding tax) for the 53 weeks ended 30 June 2019, a 24.5% decrease on the prior year's 130.5 cents per share. This brings the total dividend for the year to 190.5 cents, a 20.3% decrease on the prior year's total dividend of 239.0 cents per share.
Company outlook: In South Africa, consumer spending is expected to remain constrained. However, we expect Food to continue to trade ahead of the market and for FBH to continue its turnaround.
In Australia, we believe the retail market will continue to be tough with heavy discounting and promotional activity.
We remain committed to delivering our strategies and invest in initiatives that drive growth and efficiencies, while focusing on reducing costs, improving cash flows and strengthening the balance sheet.