S&V Weekly Newsletter Vol.6 No.26, June 29, 2020
This Newsletter is sponsored by SAFLIA
Please note: Click on any ad to go to the advertiser’s website
Tanners, footwear manufacturers seek suspension of wage increase this year
Durban, KZN, SA – The National Bargaining Council of the Leather Industry of SA (NBC) has confirmed that it has received requests for relief measures from employer organisations in 2 of its 3 sectors.
‘Black Lives Matter’ trademark applications surge after protests
According to Bloomberg, "As demonstrators gathered in cities across America to protest police brutality, some individuals were busy trying to trademark the slogans 'Black Lives Matter' and 'I Can’t Breathe' for use on merchandise, apparel and even wine.
Stock Exchange News Service (SENS)
Pepkor: Accelerated bookbuild offering, trading update
Cape Town, W Cape, SA (June 23, 2020) – Pepkor announced its intention to conduct a non pre-emptive placing of up to 172.5 million ordinary shares in the authorised but unissued share capital of the Company (the "Placement Shares") to certain institutional investors (the "Placement"), which represents up to 4.95% of the Company's existing issued ordinary shares. The Placement Shares will be issued by the Company under and in accordance with its existing general authority to issue shares for cash, granted by shareholders at the annual general meeting of the Company held on 11 March 2020. The Placement is being conducted via an accelerated bookbuild process (the "Bookbuild"), which will be launched immediately following this announcement. Rand Merchant Bank, a division of FirstRand Bank Ltd. and Morgan Stanley & Co. International Plc are acting as joint global coordinators and joint bookrunners of the Placement (the “Bookrunners”).
AVI: Trading statement and update
Johannesburg, Gauteng, SA (June 25, 2020) - The second semester’s performance was materially impacted by the COVID-19 pandemic. Significant time and resources were invested to achieve compliance with regulations with particular emphasis on ensuring our employees were safe at work. Despite significant logistical challenges AVI’s essential businesses were able to sustain production and supply our retail partners throughout the period.
Mr Price: Final results March 2020
Durban, KZN, SA (June 25, 2020) -Revenue for the year went up 2.1% to R23.0 billion (2019: R22.6 billion) whilst profit from operating activities remained stable at R4 billion (2019: R4 billion). Profit attributable to shareholders decreased to R2.7 billion (2019: R3 billion). In addition, headline earnings per share from continuing operations decreased by 11% to 1 049.9 cents per share (2019: 1 179.4 cents per share).
No-one's immune: Nike's fourth quarter income statement review shows huge drop
Beaverton, Ore., U.S. (June 25, 2020) - Nike, Inc. on Friday reported financial results for its fiscal 2020 fourth quarter and full year ended May 31, 2020. Below is an extract:
Cape Town, W Cape, SA - Former Adidas (SA) sales director Darren Cooke has been transferred to Egypt as GM of the company's Levant and North Africa (LENA) region.
They Said It
"I've been so busy I forgot to pick up my daughter from school. She demanded a bribe of KFC not to tell her father." - Nerisha Jairaj, executive director of SAFLEC, on why I couldn't get hold of her. She may have to buy lots more KFC now.
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
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
1. SA Rand (ZAR)
2. Zambian Kwacha (ZK)
3. Zimbabwean Dollar (Z$)
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (June 23, 2020) - The current average hide price increased by 2.1% to R0.72/kg from R0.710kg green a week ago. The current price, however, is 9.5% higher than the average price a month ago and is 57.3% lower than the average price a year ago. Prices remain low, with no expectations of a bounce back in the short term. Hide prices; for now; are holding at almost zero; with the aim solely to recover the costs incurred in salting and transporting material. The local hide industry is expected to remain under pressure for the next few months. . NB* Hide prices are determined as the average of the RMAA (Red Meat Abattoir Association) prices and prices of independent companies. - Conce Moraba, agricultural economist, Absa group.
29/06/1947: Saeed Bux, Elahi Footwear, Durban.
In Memoriam this week
29/06/2014: Joe Vivian (b. 02/11/1928), agent, Cape Town.
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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:
THRIVING RETAIL BUSINESS FOR SALE IN KLERKSDORP
Ramjee's Shoe Store, an up-market, reputable and well-established Footwear and Men's Clothing outlet in an incredible location (between 2 Taxi ranks). Well stocked and with a fully trained team. Serves a host of discerning clients, locally and regionally.
LUCRATIVE BUSINESS FOR SALE – DURBANVILLE – WESTERN CAPE
This business was established in 2007 and is an operational going concern. The Business has a loyal and large customer base in the WC and other provinces and offer excellent and affordable Hunting and Game skins products to the general public and commercial Wholesale/Retail trade.
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, email@example.com
Next newsletter: July 6, 2020.