S&V Weekly Newsletter Vol.5 No.39, September 30, 2019
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Retail last week
Comment from 4 retailers on Saturday
SARS publishes footwear tariff code changes for comment
Pretoria, Gauteng, SA – The SA Revenue Services' technical tariff amendment team has published a draft document for public comment on proposed changes to tariff codes, including a number for imported footwear. The opportunity for comment closes on October 10, and the amendments would come into force from January 1. This is only done annually.
There will be a further meeting of stakeholders (by invitation from the Minister) to further discuss the implementation of the proposed CTFL Masterplan tomorrow.
Stock Exchange News Service (SENS) releases
Truworths - UK debt restructuring concluded
Cape Town, W Cape, SA (September 26, 2019) – Investors are referred to the SENS announcement dated 2 July 2019 in which the Group advised that it had entered into discussions with the United Kingdom ("UK") lenders to the Office footwear retailing business regarding potential debt restructuring options. The company further advised at the time of the release of its annual results on 15 August 2019 that negotiations had progressed constructively and that management believed that they would be concluded satisfactorily.
Harare, Zimbabwe – Former Paramount Garment Works procurement manager Nicola Hamp-Adams left at the end of August. Gudrun Durkin is the new Head of Procurement. Her email is email@example.com. Paramount manufactures uniforms and work wear under the Javlin brand.
Durban, KZN, SA Former Michelle Footwear W Cape agent Grant Majoor has left the industry. Sales in the region are for now being handled by Warren and Sarah Gedye.
They Said It
Michelle Footwear co-founder Mike Gedye died last Wednesday. This week's 'They Said Its' are all related to his death.
"All the good ones are going, and I don't feel so hell of a well myself." - Italian Leathers' Lionel Astill.
"We're out of the box people." - His widow, Sarah Gedye, speaking at the funeral service on Friday.
"We took so many chances - it was pure adrenalin. I miss those days." - Eric Majoor, Gedye's first Natal agent, reminiscing at the service.
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 27/09: Hides & skins prices
Dorper skins were R25.00/skin and merinos skins were R35.50/skin. - 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.
30/09/1934: Ben Peters, Tuftex, Pinetown.
In Memoriam this week
02/10/1998: Sarel Roets, Leatherite, Pretoria.
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Have a look at these links
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