S&V Weekly Newsletter Vol.6 No.37, Sept 14, 2020
This Newsletter is sponsored by SAFLIA
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Fear, not money, the major problem
Raymond's, men's outfitter, 1 store.
Customers 'expect deep price cuts'
Westecs, family outfitter, 1 store
'We should recover quite quickly'
Universal Footwear & Clothing Brands, agent.
'It's getting better each month'
Leather Zulu, bespoke leather goods manufacturer, repairer and retailer, 1 store.
Triple M in business rescue
Cape Town, W. Cape, SA – Triple M Footwear (Pty) Ltd, which has 24 stores and a wholesale division, and which trades as Shoerama, Nextstep and Shoeline, went into business rescue on September 2, according to a letter to creditors sent by Herman Bester of Tygerberg Trustees. The first zoom meeting of affected parties will be held tomorrow (September 15) at 12.
'We're going down the same road for the second time'
Shoe Biz, family footwear, 1 store.
The 'masterplan' for SA's CTFL sector
Official DTIC release
Localisation plan in the clothing, textile, footwear and leather industry set to accelerate
From Sidwell Medupe, departmental spokesperson, DTIC
Some hopeful of things to come
John Comley, CEO of Celrose Clothing and its footwear manufacturing subsidiary, Eddels, said the masterplan had been set back by the lockdown, but that looking ahead, he expected it to generate better results for his businesses within 18 months.
And one who thinks nothing has changed
Mohamed Vanker, proprietor of Tego Footwear, said the plan had so far achieved almost nothing. In a hard-hitting email to FLIC, SAFLIA and S&V, he wrote:
Stock Exchange News Service (SENS)
AVI: Final results June 2020
Footwear profits plunge
Johannesburg, Gauteng, SA (September 7) – Revenue for the year went up 0.4% to R13.210 billion (2019: R13.151 billion) whilst operating profit before capital items was 7.5% lower at R2.3 billion (2019: R2.5 billion). Profit attributable to owners increased by 21.4% to R1.9 billion (2019: R1.6 billion). Furthermore, headline earnings per share decreased by 8.9% to 470.8 cents per share (2019: 516.6 cents per share). However, in its segmental review, its footwear divisions saw major drops:
Snackworks was the biggest and by far the most profitable division.
They Said It
"I am now based and living in the UK in a small town called Harpenden (just north of London), since mid-January. Of course, we got our timing to start a new life here pretty wrong! The job market here is terrible and it's been impossible to find a decent job." - Former Vandan owner Alex Largatzis. More on him in the next issue.
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
1. SA Rand (ZAR)
2. Zambian Kwacha (ZK)
3. Zimbabwean Dollar (Z$)
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (September 07, 2020) - The current average hide price increased by 4.0% to R0.59/kg from R0.57/kg green a week ago. The current price is 3.1% higher than the average price a month ago and is 61.0% lower than the average price a year ago. The local and global hide markets remain under significant pressure, with demand at very low levels, resulting in prices reaching almost zero for many players. Industry players are not very optimistic, given expectations that demand will remain low in the coming months. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. - Abrie Rautenbach, head Absa agribusiness, and Paige Bowen, agricultural economist, Absa group.
14/09/1941: Rob Jordan, retired, formerly Jordan Shoes, Cape Town.
In Memoriam this week
15/09/1995: Andy Bax, NPI, Durban.
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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:
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, email@example.com
Next newsletter: September 21, 2020.