S&V Weekly Newsletter Vol.10 No.10, March 04 2024
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Major fire at Berzacks KZN premises
Durban, KZN, SA – The Umbilo premises of Berzacks, Bloch & Levitan and Coats were badly damaged in a fire late on Friday afternoon. The group will issue a statement later today.
After better than expected back-to-school, sales have plateaued
Naeem Hajat, Fanas Outfitters
Bethlehem, Free State, SA – January is always good for us, because of back to school, and February is traditionally quiet, although this year it has been quieter than usual.
March, starting with a weekend, has started well, but we’re hoping for more consistent trade through the month.
Starting in August last year, we converted our second store into sportswear. Previously we carried a little bit. The reason is that there are fashion outlets on every corner, whereas sport is more niche.
We stock entry level product, and we’ll learn as we go along. We concentrate on soccer – kit and boots – for schools and clubs, and we also carry product for netball, volleyball and athletics. We will grow as we learn what the demand is.
Ismail Patel, Fairworth’s Stores
Springs, Gauteng, SA – The year so far? Not bad. January was good because of back-to-school. February was okay, fine. March – yesterday load shedding affected trading. Today (Saturday) has been okay.
There have been problems with stock because of shipping and harbour delays.
Marlan Naicker, Featherby’s for Shoes
East London, E. Cape, SA – Business in EL is not good at all for me. It’s been really bad since last year September, till today. March started yesterday so too early to tell, but seems just as bad.
Truworths International Ltd
Unaudited group interim results and cash dividend declaration for the 26 weeks ended 31 December 2023
Cape Town, W. Cape, SA (Thu 29 February 2024, 15:00) – Truworths International Ltd (the company) is an investment holding and management company listed on the stock exchanges operated by the JSE Ltd (JSE) and A2X (Pty) Ltd (A2X), as well as the Namibian Stock Exchange (NSX). Its principal trading entities, Truworths Ltd and Office Holdings Ltd, are engaged either directly or indirectly through subsidiaries, concessions, agencies or wholesale partners, in the cash and account retailing of fashion clothing, footwear, homeware and related merchandise. The company and its subsidiaries (the Group) operate primarily in South Africa and the United Kingdom (UK), and have a presence in the Republic of Ireland and other sub-Saharan African countries.
| Key features |
|
| Sale of merchandise |
up 8.5% to R11.8 billion |
| Retail sales |
up 8.2% to R12.2 billion |
| Gross profit margin |
53.6% (Dec 2022: 53.5%) |
| Operating margin |
24.5% (Dec 2022: 24.7%) |
| Earnings per share |
up 4.3% to 531.5 cents |
| Headline earnings per share |
up 3.6% to 512.6 cents |
| Diluted headline earnings per share |
up 3.6% to 504.8 cents |
| Cash generated from operations |
R2.7 billion (Dec 2022: R1.7 billion) |
| Net asset value per share |
up 19.1% |
| Interim cash dividend per share |
up 3.8% to 332 cents |
They Said It
"Worst thing in the world is a rebate store." - Component importer who preferred anonymity. His comment was during the preparation of an article on the R-CTFL Masterplan, to be published tomorrow.
New subscribers last week
Kevin Jooste, Sales Director, adidas SA, Johannesburg, Gauteng, South Africa
Peter Mastelic, President/CEO, Hüni AG Process Controls, Horgen, Switzerland
Sebenzile Thango Retailer, Mathoswazi investments, Manzini City, Swaziland
Got anything you'd like to share?
Do you have any suggestions, comments or experiences about the industry that you'd like to share with the industry? - tony@svmag.co.za
Birthdays this week
04/03/1946: John Commins, retired, formerly Wayne Plastics, Johannesburg, Gauteng, SA.
04/03/1973: Gerrit Sander, commission agent, Cape Town, W. Cape, SA.
04/03/1977: Regan Govender, Paragon Footwear, Pietermaritzburg, KZN, SA.
05/03/1937: Arnold Buckby, agent, Cape Town, W. Cape, SA.
05/03/1949: Tony Carnecky, retired, formerly Futura Footwear/Bata SA and Bata Kenya, Pinetown, KZN, SA.
05/03/1983: David Novos, Economic Shoes, Paarl, W. Cape, SA.
05/03/1986: Muhammed Omar, Fashion Square, Durban, KZN, SA.
06/03/1963: Sunil Jethwa, The African Boot Co., Nairobi, Kenya.
06/03/1971: Sunil Bhagwandas, Ginger Bhagwandas, Durban, KZN, SA.
06/03/1976: Kevin Pillay, Alateens Bopsi Footwear, Durban, KZN, SA.
07/03/1960: Rafique Moosa, Cassim Moosa Bros. Trading, Pretoria, Gauteng, SA.
08/03/1956: Cedric Zoghby, Atlantic Protective Clothing, Johannesburg, Gauteng, SA.
08/03/1958: Gary van Rooyen, Certo Sports, Cape Town, W. Cape, SA.
08/03/1962: Rajesh Kulwa, ?, formerly Apeco, Pinetown, KZN, SA.
08/03/1966: Yamraj Deeplal, Foot Flair, Amanzimtoti, KZN, SA.
09/03/1967: PJ Moloisane, Trade & Investment SA, Sandton, Gauteng, SA.
09/03/1982: Romal Sewsunker, Sunstep Footwear, Durban, KZN, SA.
In memoriam this week
06/03/1993: Brian Murphy, agent.
06/03/2011: Livio Sirilli (b. 06/04/1921), Sirilli Shoes [closed], Pietermaritzburg, KZN, SA.
09/03/2016: David Opie (b. 11/01/1963), Hippo Bag & Screen [closed], Cape Town, W. Cape, SA.
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.
Directory entries updated this week
Fairworth’s Stores cc, Springs, Gauteng, SA.
Fanas Outfitters cc, Bethlehem, Free State, SA.
Status Shoetique cc, Rustenburg, N.W. Province, SA.
 
Exchange rates
Note: For previous rates, see HERE
1. SA Rand (ZAR)/Lesotho Loti (LSL)/Namibian Dollar (NAD)/Swazi Lilangeni (SZL)
Source: http://www.x-rates.com/calculator/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 02/01/2024 |
R20.30 |
R23.42 |
R18.54 |
R2.60 |
| 06/01/2024 |
R20.45 |
R23.77 |
R18.68 |
R2.61 |
| 13/01/2024 |
R20.44 |
R23.79 |
R18.65 |
R2.62 |
| 20/01/2024 |
R20.71 |
R24.14 |
R19.01 |
R2.67 |
| 27/01/2024 |
R20.39 |
R23.85 |
R18.78 |
R2.64 |
| 05/02/2024 |
R20.41 |
R23.89 |
R18.98 |
R2.64 |
| 10/02/2024 |
R20.52 |
R24.03 |
R19.03 |
R2.64 |
| 17/02/2024 |
R20.35 |
R23.80 |
R18.89 |
R2.62 |
| 24/02/2024 |
R20.91 |
R24.40 |
R19.30 |
R2.68 |
| 02/03/2024 |
R20.71 |
R24.17 |
R19.11 |
R2.65 |
2. Botswana Pula (BWP)
Source: https://www.xe.com/currencyconverter/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 02/01/2024 |
14.66 |
16.91 |
13.39 |
1.88 |
| 06/01/2024 |
14.78 |
17.19 |
13.51 |
1.89 |
| 13/01/2024 |
18.81 |
17.24 |
13.52 |
1.89 |
| 20/01/2024 |
14.86 |
17.33 |
13.64 |
1.91 |
| 27/01/2024 |
14.77 |
17.28 |
13.61 |
1.91 |
| 05/02/2024 |
14.73 |
17.24 |
13.70 |
1.90 |
| 10/02/2024 |
14.77 |
17.29 |
13.70 |
1.90 |
| 17/02/2024 |
14.77 |
17.28 |
13.71 |
1.90 |
| 24/02/2024 |
14.92 |
17.41 |
13.77 |
1.91 |
| 02/03/2024 |
14.90 |
17.39 |
13.74 |
1.91 |
3. Malawian Kwacha (MWK)
Source: https://www.rbm.mw/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 10/02/2024 |
1849.26 |
2165.66 |
1666.73 |
90.57 |
| 17/02/2024 |
1847.37 |
2160.68 |
1666.73 |
90.73 |
| 24/02/2024 |
1858.36 |
2173.21 |
1666.73 |
91.40 |
| 02/03/2024 |
1855.79 |
2167.03 |
1666.73 |
91.32 |
4. Zambian Kwacha (ZMW)
Source: https://www.boz.zm/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 10/02/2024 |
29.04 |
33.99 |
26.96 |
1.41 |
| 17/02/2024 |
27.36 |
31.96 |
25.40 |
1.34 |
| 24/02/2024 |
24.91 |
29.19 |
22.99 |
1.19 |
| 02/03/2024 |
25.48 |
29.77 |
23.56 |
1.22 |
5. Zimbabwean Dollar (ZWL$)
Source: Source: https://www.rbz.co.zw/
| |
Euro € |
GBP £ |
US$ |
ZAR |
| 10/02/2024 |
12335.25 |
14448.09 |
11450.66 |
40.42 |
| 17/02/2024 |
13556.38 |
15850.40 |
12597.58 |
|
| 24/02/2024 |
14868.38 |
17396.60 |
13736.36 |
|
| 02/03/2024 |
16324.79 |
19062.07 |
15098.03 |
|
Note: For previous rates, see HERE
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (01 March 2024) - The average hide price decreased by 0.15% to R3.286/kg from R3.291/kg a week ago. The current price is 0.07% higher than the average price a month ago and 21.8% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R3.25 Maximum price: R3.50. Please note: Our methodology weighs the prices we collect according to the number of hides they sell in a month. This is done to make it more representative of the prevailing market price. NB* Hide prices are determined by the average of the RMAA (Red Meat Abattoir Association) and independent companies. - Marlene Louw, senior agricultural economist, and Nkhensani Mashimbyi, agricultural economist, and Zama Sangweni, agricultural economist, Absa group.
Note: For previous prices, see HERE
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:
Status Shoetique, Rustenburg, NW Province, SA. Footwear retailer.
Stecor Leather Works & Supply, Arusha, Tanzania. Furniture manufacturer.
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: March 11, 2024. Ad and editorial deadline Friday 08 March.
SAFLIA enquiries: Tel 0800SAFLIA * Email info@saflia.co.za * Website http://www.saflia.co.za
Our website www.svmag.co.za
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