S&V Weekly Newsletter Vol.5 No.38, September 23, 2019
This Newsletter is sponsored by SAFLIA
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Retail last week
Comment from 4 retailers on Saturday
Edcon sells two brands as part of turnaround strategy, and plans to dispose of more
Competition Tribunal approves Edcon/Footgear deal
Pretoria, Gauteng, SA – The Competition Tribunal has approved a large merger which sees Edcon selling two of its brands, “Edgars Active” and “High Key”, to a company called Footgear (Pty) Ltd – which is ultimately owned by Old Mutual.
Stock Exchange News Service (SENS) releases
Mr Price - allegations of non-compliance
Durban, KZN, SA (September 19, 2019) – Further to the SENS announcement released on 12 September 2019, which addressed speculation in the market, the Group's internal investigation has now proceeded to a point where the level of materiality has been determined.
They Said It
"We've had several calls from the trade, including some of our own agents, that Bolton Footwear is in the process of selling Barker and Crockett & Jones to Dick Whittington. Clearly people have not got enough to busy themselves with. It's a figment of someone’s imagination. Those brands are core to our business and aren't going anywhere. Maybe somebody saw Arveen and I having a cup of coffee and a doughnut together, put 2 and 2 together and came up with 5." - Bolton Footwear MD Alan Fleetwood. Dick Whittington Footwear MD Arveen Boodhoo left work early on Friday, so he wasn't around to ask about his supposed new brands.
S&V Directory - Order now
The directory is ready. On sale for R450. The online version is also available at R450 for 12 months' access.
2019 Trade Fairs Another essential service from S&V
Please note that we have put a list of the 2019 trade fairs and conferences on our website, linked to their websites: http://www.svmag.co.za/events
ABSA Agri Trends 17/09: Hides & skins prices
Hides: R1.78/kg. this is 16.2% higher than last week’s price of R1.53/kg. The current price is 64.9% lower than prices were a year ago. This week prices were supported by the lower cattle slaughter numbers. Locally we did not see many fresh hides entering the market. Prices remain weak and a recovery is not be expected in the short to medium term. - Wessel Lemmer, senior agricultural economist, Absa Group. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies.
23/09/1945: Devan Nayager, Shoe Africa, Durban.
In Memoriam this week
23/09/2005: Tony Mossop (b. 30/06/1942), Mossop-Western Leathers, Wellington.
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Have a look at these links
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News & Classifieds: Tony Dickson, +27 (0)31 209 7505, firstname.lastname@example.org
Next newsletter: September 30, 2019.