S&V Weekly Newsletter Vol.11 No.51, December 22 2025
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Retail Trading
Shoppers are coming but spending less
Boksburg, Gauteng, SA – Trading is “okay, but it’s not like previous years”, Suleiman Teladia, a member at Brands Megastore, said on Friday. “We’re getting the volume of feet, but people are spending less,” he said. “It’s possible Black Friday had an effect, because it was month end. Also, I think many people haven’t received bonuses this year. “However, being positive, I’m hoping the next few days will be good.”
Brands Megastore carries men’s, women’s and children’s casual and formal clothing and footwear, and workwear.
‘Consumers don’t have money’
Dundee, KZN, SA – Trading so far is “not like normal”, Zaid Ayob, a member at Manhattan’s, said on Friday. “This area has been affected by the economy,” he said. “Guys don’t have finances like they had before. Quite a few shops that have closed. Hopefully it should pick from Monday to Wednesday.”
Manhattan’s is a men’s outfitter.
‘2025 has been slow and tough’
Port Shepstone, KZN, SA – December so far “has been like the rest of the year – slow and tough”, Naseem Essack, director of Brandz, said on Friday. “I hope something changes in the next 5 or 6 days.”
He said it would be interesting to know how well the chains were doing on a comparable store basis.
Brandz sells men’s clothing and footwear, women’s footwear, and some children’s clothing and footwear. It has 10 stores, 8 in KZN and 2 in the former Transkei, now part of the Eastern Cape.
‘The rich are still rich, but the middle class is battling’
Johannesburg, Gauteng, SA – Trading isn’t good because traditional customers don’t have money, M.H. Abdulla, member of Casual Affair in the Oriental Plaza, said on Saturday. “Expensive branded shops are doing well,” he said, “but our customers, the middle class, are battling. Also, trade in the plaza isn’t balanced – too many shoe and clothing shops.”
Casual Affair is a men’s outfitter.
+
Financial Results
Nike: Revenue 1% up, net income 32% down
Converse declines in all territories
Beaverton, Oregon, U.S.A. (18 December 2025) – Nike Inc. reported fiscal 2026 financial results for its second quarter ended 30 November 2025.
- Revenues for NIKE, Inc. were $12.4 billion, up 1% on a reported basis and flat on a currency-neutral basis.
- NIKE Brand revenues were $12.1 billion, up 1% on a reported and currency-neutral basis, primarily due to growth in North America, partially offset by declines in Greater China and APLA.
- Wholesale revenues were $7.5 billion, up 8% on a reported and currency-neutral basis, primarily due to growth in North America.
- NIKE Direct revenues were $4.6 billion, down 8% on a reported basis and down 9% on a currency-neutral basis, due to a 14% decrease in NIKE Brand Digital and a 3% decrease in NIKE-owned stores.
- Revenues for Converse were $300 million, down 30% on a reported basis and down 31% on a currency-neutral basis, due to declines across all territories.
- Gross margin decreased 300 basis points to 40.6%, primarily due to higher tariffs in North America.
- Selling and administrative expense increased 1% to $4.0 billion.
- Demand creation expense was $1.3 billion, up 13%, primarily due to higher brand marketing expense and higher sports marketing expense.
- Operating overhead expense was $2.8 billion, down 4%, primarily due to lower wage-related expense and lower other administrative costs.
- The effective tax rate was 20.7% compared to 17.9% for the same period last year, primarily due to changes in earnings mix.
- Net income was $0.8 billion, down 32%, and Diluted earnings per share was $0.53, a decrease of 32%.
Noticeboard
Death notice
Durban, KZN, SA – Vic Jablowski, member of shoe machinery maintenance business Protech V cc, died on Thursday 11 December age 72.
An obituary will follow in the January 2026 edition of S&V Footwear & Leather Goods.
They Said It
"Merry Christmas and have a festive new year! Hopefully 2026 is going to be a cooker year. ZAR stronger, interest rate down, GDP up, tourism up. Happy days." - Steven ‘Chappy’ Adshade, Karma Now, Cape Town, W. Cape, SA. Karma, which distributes sunglasses, watches and other products, has just landed the local D2C launch of the M-Experiment www.m-experiment.co.za. SA surfer Jordy Smith is one of the global brand ambassadors.
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
22/12/1966: Collin Kisten Pillay, Topline Manufacturers, Durban, KZN, SA.
22/12/1973: Hassan Adam, Seadoone Shoes, Amanzimtoti, KZN, SA.
23/12/1947: Chris Dorasamy, Robach Components, Pinetown, KZN, SA.
23/12/1949: Alex Gordon, Novita Shoes, Durban, KZN, SA.
23/12/1991: Gary de Vogel, Hi-Tec SA (Pty) Ltd, Cape Town, W. Cape, SA.
24/12/1947: Gerald Borg, formerly Bata SA and Amshoe (closed), KZN, SA, emigrated to Cyprus.
24/12/1953: Morgan Naidoo, retired, formerly Alan D. Jackson [closed], Pinetown, KZN, SA.
25/12/????: Malcolm Walton, retired, formerly Corrida Shoes, Pietermaritzburg, KZN, SA.
25/12/1934: Ivan Harris, retired, formerly Woodheads, Cape Town, W. Cape, SA.
25/12/1948: Morris Smith, agent, Durban, KZN, SA.
25/12/1960: Yusuf Moosajee, Seltex, Johannesburg, Gauteng, SA.
25/12/1969: Noel Whitehead, Bolton Footwear and chairman, SAFLIA, Cape Town, W. Cape, SA.
25/12/1975: Mohamed Ameen Ravat, Ravat & Sons International, Pietersburg/Polokwane, Limpopo, SA.
26/12/1937: Andre le Roux, retired, formerly Watson Shoes Ladies’ Division, Oudtshoorn, W. Cape, SA.
26/12/1948: Peter Waddleton, left the industry. Formerly Bata SA, then Finlam Textiles, Pinetown, KZN, SA.
26/12/1977: Kirit Mistry, Shoe Junxion, Sasolburg, Free State, SA.
26/12/1956: Omar Faruk Doola, Shoe World, Springs, Gauteng, SA.
26/12/1987: Mohamed Bulbulia, Boot & Shoe Centre, Johannesburg, Gauteng, SA.
27/12/1962: Kareem Kader, Options, Gaborone, Botswana.
28/12/1970: Tony Vaubell, Mr Price Group, Durban, KZN, SA.
28/12/1979: Peter Bassingthwaighte, Bass Marketing, Cape Town, W. Cape, SA.
28/12/1988: Ismail Moosa, Jumbo Footwear, Pietermaritzburg, KZN, SA.
In memoriam this week
22/12/2008: John Whittle (b. 21/05/1936), John Whittle Components, Pinetown, KZN, SA.
23/12/2004: Stewart Dorrington (b.?), King Tanning (closed), King William’s Town, E. Cape, SA.
23/12/2014: Mohammed Seedat (b. 16/07/1942), Jino’s Clothing, Johannesburg, Gauteng, SA.
23/12/2020: Hennie van Zyl (b. 26/10/1959), Ostriland Import/Export, Citrusdal, W. Cape, SA.
25/12/2003: Lionel Klein (b. 24/08/1926), agent, Durban, KZN, SA.
26/12/2020: Neville Dodo (b. 02/04/1941), Edworks Group (closed), Dodo’s Shoes, Johannesburg, Gauteng, SA.
26/12/2023: Lodewyk Marthinus ‘Lou’ Jonck (b. 26/09/1951), agent, Port Elizabeth, E. Cape, SA.
27/12/2020: Yusuf Bham, Megashoes (closed), Durban, KZN, 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 last week
Brands Megastore [Euro Boot & Shoe cc], Boksburg, Gauteng, SA.
Manhattan’s [Moosa Ayob & Sons cc], Dundee, KZN, 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 ¥ |
| 05/07/2025 |
R20.70 |
R24.00 |
R17.58 |
R 2.45 |
| 12/07/2025 |
R20.93 |
R24.18 |
R17.90 |
R 2.49 |
| 19/07/2025 |
R20.60 |
R23.78 |
R17.72 |
R 2.46 |
| 28/07/2025 |
R20.82 |
R23.90 |
R17.81 |
R 2.48 |
| 04/08/2025 |
R20.79 |
R23.87 |
R17.98 |
R 2.50 |
| 09/08/2025 |
R20.62 |
R23.85 |
R17.74 |
R 2.49 |
| 17/08/2025 |
R20.59 |
R23.85 |
R17.60 |
R 2.45 |
| 24/08/2025 |
R20.44 |
R23.55 |
R17.43 |
R 2.43 |
| 30/08/2025 |
R20.62 |
R23.83 |
R17.65 |
R 2.47 |
| 06/09/2025 |
R20.59 |
R23.70 |
R17.57 |
R 2.46 |
| 13/09/2025 |
R20.38 |
R23.54 |
R17.37 |
R 2.43 |
| 20/09/2025 |
R20.36 |
R23.38 |
R17.33 |
R 2.43 |
| 27/09/2025 |
R20.30 |
R23.23 |
R17.34 |
R 2.43 |
| 04/10/2025 |
R20.21 |
R23.20 |
R17.22 |
R 2.41 |
| 11/10/2025 |
R20.26 |
R23.32 |
R17.46 |
R 2.44 |
| 20/10/2025 |
R20.19 |
R23.22 |
R17.31 |
R 2.43 |
| 25/10/2025 |
R20.10 |
R23.00 |
R17.25 |
R 2.42 |
| 01/11/2025 |
R20.06 |
R22.78 |
R17.32 |
R 2.43 |
| 08/11/2025 |
R20.02 |
R22.77 |
R17.30 |
R 2.43 |
| 14/11/2025 |
R19.89 |
R22.53 |
R17.12 |
R 2.41 |
| 22/11/2025 |
R19.99 |
R22.74 |
R17.37 |
R 2.44 |
| 29/11/2025 |
R19.86 |
R22.68 |
R17.13 |
R 2.42 |
| 06/12/2025 |
R19.70 |
R22.57 |
R16.92 |
R 2.39 |
| 13/12/2025 |
R19.76 |
R22.55 |
R16.84 |
R 2.38 |
| 20/12/2025 |
R19.64 |
R22.44 |
R16.77 |
R 2.38 |
2. Botswana Pula
Source: http://www.x-rates.com/calculator/
| |
Euro € |
GBP £ |
US $ |
CNY ¥ |
| 05/07/2025 |
15.58 |
18.07 |
13.23 |
1.84 |
| 12/07/2025 |
14.77 |
17.07 |
12.64 |
1.76 |
| 19/07/2025 |
16.22 |
18.72 |
13.95 |
1.94 |
| 28/07/2025 |
15.81 |
18.16 |
13.53 |
1.88 |
| 04/08/2025 |
15.75 |
18.09 |
13.62 |
1.89 |
| 09/08/2025 |
16.58 |
19.17 |
14.26 |
1.98 |
| 17/08/2025 |
16.57 |
19.22 |
14.18 |
1.97 |
| 24/08/2025 |
16.89 |
19.45 |
14.40 |
2.01 |
| 30/08/2025 |
16.78 |
19.40 |
14.36 |
2.01 |
| 06/09/2025 |
16.45 |
18.93 |
14.04 |
1.96 |
| 13/09/2025 |
16.67 |
19.26 |
14.21 |
1.99 |
| 20/09/2025 |
16.63 |
19.10 |
14.16 |
1.99 |
| 27/09/2025 |
15.68 |
17.94 |
13.40 |
1.87 |
| 04/10/2025 |
16.58 |
19.03 |
14.12 |
1.98 |
| 11/10/2025 |
16.41 |
18.89 |
14.14 |
1.98 |
| 20/10/2025 |
16.57 |
19.06 |
14.21 |
1.99 |
| 25/10/2025 |
16.40 |
18.77 |
14.08 |
1.97 |
| 01/11/2025 |
16.55 |
18.80 |
14.29 |
2.01 |
| 08/11/2025 |
16.60 |
18.87 |
14.34 |
2.01 |
| 14/11/2025 |
16.18 |
18.33 |
13.96 |
1.96 |
| 22/11/2025 |
15.31 |
17.41 |
13.30 |
1.87 |
| 29/11/2025 |
16.57 |
18.92 |
14.29 |
2.01 |
| 06/12/2025 |
15.43 |
17.67 |
13.25 |
1.87 |
| 13/12/2025 |
15.54 |
17.74 |
13.25 |
1.87 |
| 20/12/2025 |
16.46 |
18.80 |
14.05 |
1.99 |
3. Malawian Kwacha (MWK) (buying)
Source: https://www.rbm.mw/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 05/07/2025 |
2082.80 |
2416.70 |
1717.02 |
100.70 |
| 12/07/2025 |
2065.11 |
2393.71 |
1717.02 |
99.44 |
| 19/07/2025 |
2054.50 |
2372.84 |
1717.02 |
99.43 |
| 28/07/2025 |
2072.89 |
2372.13 |
1717.02 |
99.60 |
| 04/08/2025 |
2043.89 |
2346.49 |
1717.02 |
98.34 |
| 09/08/2025 |
2059.63 |
2374.43 |
1717.02 |
99.76 |
| 17/08/2025 |
2063.52 |
2395.47 |
1717.02 |
100.69 |
| 24/08/2025 |
2050.79 |
2370.89 |
1717.02 |
99.83 |
| 30/08/2025 |
2062.64 |
2386.46 |
1717.02 |
99.78 |
| 06/09/2025 |
2064.05 |
2381.33 |
1717.02 |
99.85 |
| 13/09/2025 |
2074.13 |
2396.36 |
1717.02 |
101.76 |
| 20/09/2025 |
2082.09 |
2388.75 |
1717.02 |
101.85 |
| 27/09/2025 |
2065.29 |
2361.70 |
1717.02 |
101.40 |
| 04/10/2025 |
2072.36 |
2375.84 |
1717.02 |
102.32 |
| 11/10/2025 |
2046.37 |
2350.20 |
1717.02 |
102.44 |
| 20/10/2025 |
Not available this morning |
| 25/10/2025 |
2052.20 |
2355.86 |
1717.02 |
102.09 |
| 01/11/2025 |
2046.37 |
2326.15 |
1717.02 |
102.32 |
| 08/11/2025 |
2039.47 |
2319.07 |
1717.02 |
101.85 |
| 14/11/2025 |
2058.39 |
2325.62 |
1717.02 |
103.72 |
| 22/11/2025 |
2041.06 |
2314.65 |
1717.02 |
102.54 |
| 29/11/2025 |
2048.49 |
2336.76 |
1717.02 |
103.04 |
| 06/12/2025 |
2061.93 |
2360.63 |
1717.02 |
104.35 |
| 13/12/2025 |
2075.72 |
2368.42 |
1717.02 |
104.97 |
| 20/12/2025 |
2072.54 |
2365.59 |
1717.02 |
105.59 |
4. Zambian Kwacha (ZMW) (buying)
Source: https://www.boz.zm/
| |
Euro € |
GBP £ |
US $ |
ZAR |
| 05/07/2025 |
28.57 |
33.11 |
24.25 |
1.37 |
| 12/07/2025 |
27.16 |
31.38 |
23.24 |
1.29 |
| 19/07/2025 |
26.77 |
30.91 |
22.95 |
1.29 |
| 28/07/2025 |
27.37 |
31.38 |
23.36 |
1.31 |
| 04/08/2025 |
Website would not open this morning |
| 09/08/2025 |
27.01 |
31.13 |
23.18 |
1.30 |
| 17/08/2025 |
27.13 |
31.48 |
23.21 |
1.31 |
| 24/08/2025 |
26.97 |
31.16 |
23.22 |
1.31 |
| 30/08/2025 |
27.47 |
31.69 |
23.55 |
1.32 |
| 06/09/2025 |
28.03 |
32.32 |
23.87 |
1.36 |
| 13/09/2025 |
27.88 |
32.25 |
23.81 |
1.36 |
| 20/09/2025 |
27.79 |
32.85 |
23.62 |
1.35 |
| 27/09/2025 |
27.79 |
31.82 |
23.77 |
1.36 |
| 04/10/2025 |
27.90 |
31.98 |
23.77 |
1.37 |
| 11/10/2025 |
26.22 |
30.10 |
22.66 |
1.31 |
| 20/10/2025 |
26.44 |
30.37 |
22.65 |
1.30 |
| 25/10/2025 |
25.81 |
29.69 |
22.25 |
1.28 |
| 01/11/2025 |
25.62 |
29.06 |
22.17 |
1.27 |
| 08/11/2025 |
26.20 |
29.73 |
22.66 |
1.30 |
| 14/11/2025 |
26.25 |
29.67 |
22.54 |
1.31 |
| 22/11/2025 |
26.47 |
30.06 |
22.98 |
1.32 |
| 29/11/2025 |
26.53 |
30.32 |
22.94 |
1.33 |
| 06/12/2025 |
26.84 |
30.76 |
23.05 |
1.36 |
| 13/12/2025 |
26.94 |
30.73 |
22.97 |
1.36 |
| 20/12/2025 |
26.48 |
30.23 |
22.62 |
1.34 |
5. Zimbabwe Gold (ZiG)
Source: Source: https://www.rbz.co.zw/
| |
Euro € |
GBP £ |
US$ |
ZAR |
| 05/07/2025 |
ZIG 31.68 |
ZIG 36.78 |
ZIG 26.89 |
ZIG 0.65 |
| 12/07/2025 |
ZIG 31.35 |
ZIG 36.40 |
ZIG 26.83 |
ZIG 0.66 |
| 19/07/2025 |
ZIG 31.13 |
ZIG 35.96 |
ZIG 26.80 |
ZIG 0.66 |
| 28/07/2025 |
ZIG 31.45 |
ZIG 35.98 |
ZIG 26.79 |
ZIG 0.66 |
| 04/08/2025 |
ZIG 31.02 |
ZIG 35.58 |
ZIG 26.79 |
ZIG 0.67 |
| 04/08/2025 |
Website would not open on Saturday |
| 17/08/2025 |
ZIG 31.17 |
ZIG 36.22 |
ZIG 26.78 |
ZIG 0.66 |
| 24/08/2025 |
ZIG 30.99 |
ZIG 35.83 |
ZIG 26.75 |
ZIG 0.66 |
| 30/08/2025 |
ZIG 31.20 |
ZIG 36.10 |
ZIG 26.75 |
ZIG 0.66 |
| 06/09/2025 |
ZIG 31.17 |
ZIG 35.93 |
ZIG 26.71 |
ZIG 0.66 |
| 13/09/2025 |
ZIG 31.35 |
ZIG 36.23 |
ZIG 26.72 |
ZIG 0.65 |
| 20/09/2025 |
ZIG 31.28 |
ZIG 35.99 |
ZIG 26.56 |
ZIG 0.65 |
| 27/09/2025 |
ZIG 31.03 |
ZIG 35.48 |
ZIG 26.57 |
ZIG 0.65 |
| 04/10/2025 |
ZIG 31.23 |
ZIG 35.81 |
ZIG 26.65 |
ZIG 0.64 |
| 11/10/2025 |
ZIG 30.91 |
ZIG 35.55 |
ZIG 26.71 |
ZIG 0.64 |
| 20/10/2025 |
ZIG 31.06 |
ZIG 35.76 |
ZIG 26.61 |
ZIG 0.65 |
| 25/10/2025 |
ZIG 30.77 |
ZIG 35.30 |
ZIG 26.51 |
ZIG 0.65 |
| 01/11/2025 |
ZIG 30.52 |
ZIG 34.69 |
ZIG 26.38 |
ZIG 0.65 |
| 08/11/2025 |
ZIG 30.44 |
ZIG 34.62 |
ZIG 26.38 |
ZIG 0.65 |
| 14/11/2025 |
ZIG 30.66 |
ZIG 34.62 |
ZIG 26.33 |
ZIG 0.64 |
| 22/11/2025 |
ZIG 30.37 |
ZIG 34.46 |
ZIG 26.32 |
ZIG 0.65 |
| 29/11/2025 |
ZIG 30.34 |
ZIG 34.66 |
ZIG 26.19 |
ZIG 0.65 |
| 06/12/2025 |
ZIG 30.46 |
ZIG 34.87 |
ZIG 26.13 |
ZIG 0.64 |
| 13/12/2025 |
ZIG 30.63 |
ZIG 34.96 |
ZIG 26.10 |
ZIG 0.64 |
| 20/12/2025 |
ZIG 30.58 |
ZIG 34.90 |
ZIG 26.09 |
ZIG 0.64 |
Note: For previous rates, see HERE
ABSA Agri Trends: Hides & skins prices
Johannesburg, Gauteng, SA (19 December 2025) – The current average hide price increased by 0.20% to R2.327/kg from R2.322/kg a week ago. The current price is 0.14% lower than the average price a month ago and was 17.1% lower than the average price a year ago. The range of prices reported was as follows: Minimum price: R2.25 Maximum price: R2.87. 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, 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:
Industries Safety Nigeria, PPE reseller. Port Harcourt, Nigeria.
Industrial Development Corporation of SA, Johannesburg, Gauteng, SA. State-owned investor.
THIS WEEK LAST YEAR!
A season of mixed fortunes
Moody’s affirms Pepkor’s credit rating
READ IT HERE - S&V Weekly Newsletter Vol.10 No.52, December 23 2024
THIS WEEK FIVE YEARS AGO!!
Business
- Lesotho
-- Anwary's: Flattened by Covid regulations
- Namibia
-- Safariland Holtz: Locals fill the gap left by tourism shutdown
- South Africa
-- Lucky's Mans Shop: Expecting extended Festive Season
-- PK Outfitters: Hoping to benefit from cancelled holidays
People
- Dr Jaywant Irkhede
- Nigel Ratcliffe
READ IT HERE - S&V Weekly Newsletter Vol.6 No.51, Dec 21, 2020
NEWSLETTER ARCHIVE
All the past S&V Weekly Newsletters from January 2016 onwards are available in the newsletter archive.
VIEW THE ARCHIVE - CLICK HERE
Contact us
News & Classifieds: Tony Dickson, +27 (0)31 209 7505, tony@svmag.co.za
Next newsletter: Monday 29 December, 2025. Ad and editorial deadline Friday 26 December.
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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