S&V Weekly Newsletter Vol.6 No.16, April 20, 2020
This Newsletter is sponsored by SAFLIA
Chains: Hoping for government response this week
Rentals: Be persistent, retailers urged
Wholesaler/retailer London Shoes has 4 stores in the Western Cape, each with a different landlord, and each has reacted differently, director Maon Saxe said.
Post-lockdown regulations for factories
By Richard Starmer, FLIC
Covid-19: More DTIC notifications
Pretoria, Gauteng, SA (April 08, 2020) – Dr Jaywant Irkhede, Director: Leather & Footwear at the Department of Trade, Industry & Competition (DTIC), last week forwarded more announcements:
Pan African Leather Fair postponed
By Sam Setter
FLIC, SAFLEC join forces over lockdown
By Richard Starmer, FLIC
Stock Exchange News Service (SENS)
Massmart: Sales update for the 13 weeks to 29 March 2020
Johannesburg, Gauteng, SA (April 15, 2020) – Massmart’s total sales for the 13-week period 29 March 2020 amounted to R22.0 billion and represents an increase of 1.3% over the prior year, with comparable store sales increasing by 0.9% over the same period. Product inflation is estimated at 2.3%. Total sales from our SA stores for the 13-week period increased by 1.0% over the prior year, while comparable sales increased by 0.6% over the same period. Total sales from our ex-SA stores measured in constant currencies for the 13-week period showed positive sales growth of 4.5% with comparable sales growth also showing a positive movement of 4.4% over the prior year. In Rand terms the positive sales growth on a total basis was 5.0% and 3.5% on a comparable store basis.
HomeChoice: Dividend declaration
Cape Town, W Cape, SA (April 16, 2020) – HomeChoice released its 2019 annual results on Thursday, 12 March 2020 when the impact of COVID-19 was primarily focused in China and certain countries in Europe. At the time, the Board considered the declaration and payment of a year-end dividend appropriate as the impact of COVID- 19 was expected to be limited to the importation of merchandise from China, for which the Group had already implemented plans to manage delays in production and delivery.
Woolworths: Change to the company's credit rating
Cape Town, W Cape, SA (April 16, 2020) – Senior Unsecured Floating Rate Noteholders are advised that Standard & Poor’s Global Ratings (“S&P”) downgraded the credit rating of WHL with effect from 15 April 2020. The event-driven rating action, prompted by the effects of COVID-19 and the South African Sovereign ratings downgrade, has resulted in the credit rating being revised from ‘zaA+’ to ‘zaA- (Credit Watch Negative)’ on a long term national scale basis.
They Said It
"Sorry I only saw this now. Friday being the start of the long Easter weekend my computer was off and I was busy praying for all of us and our industries." - SAFLIA executive director Jirka Vymetal.
"How about this for a kick in the teeth when a man is down. The first Lockdown was due to end on 17/04/2020, which would mean returning to work on a Friday. The second Lockdown date now ends on 30/04/2020.This means that we retailers return to work on Saturday 01/05/2020, which is a public holiday and we will have to pay double time! Worse still, is the fact that it is, ironically, Workers Day. Last time we spoke, I said that business was 'kak'. Oh, to only have that 'kak' trade back again." - Greg Bing, member, A.P. Jones, Fish Hoek, W Cape, SA.
Got anything you'd like to share?
Do you have any suggestions, comments or experiences about the lockdown that you'd like to share with the industry? We will publish the throughout the lockdown, so please let us know. - firstname.lastname@example.org
Updating the 2020 S&V Directory
I am using the lockdown to complete the 2020 edition of the S&V Directory. Something productive you could do with your lockdown time is to let me know if you have moved, had any other address or staff changes in the last 12 months. Please mail to email@example.com.
2020 Trade Fairs Another essential service from S&V
Please note that we have updated most 2020 trade fairs and conferences on our website, linked to their websites: http://www.svmag.co.za/events
ABSA Agri Trends: Hides & skins prices
Hide prices (March 25, 2020) - Please note: We will not be sending out any hide reports for the next 3 weeks due to the lockdown period. The hide markets will be closed. - Conce Moraba, agricultural economist, Absa group.
20/04/1948: Michael Hoffmann, Max-Cowell, Port Elizabeth.
In Memoriam this week
20/04/2015: Moira Pascall, Economic Shoe Store, Paarl.
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.
Have a look at these links
We invite businesses to send us links to websites, Facebook pages and the like which they feel would be of interest to others. The links below are from our database:
Groundcover Leather Company is a small footwear and bag manufacturing factory based in KZN Midlands. We are doing high quality stitch down footwear, bags, belts, and other accessories. We are presently looking for reps in all areas of South Africa except KZN. Anyone interested, please contact us on firstname.lastname@example.org
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, email@example.com
Next newsletter: April 27, 2020.