The South African Clothing and Textile Workers Union has said people are working from 10 to 16 hours a day, seven days a week for as little as R120 to R200 a week
Lockdown forced reluctant South African clothing retail stores online: although foot traffic in brick-and-mortar stores remains important in a mall culture like ours, the secret to success is innovation
TransUnion CEO Lee Naik stressed the ruling does not scrap the entire National Credit Act regulation, which makes provision for responsible lending
Both those for it and against it want responsible lending but are at odds over how it should be done
While other retailers battle with slow growth, Massmart has announced its earnings gained as much as 37% last year.
While store sales increased 10.5% in the final quarter of 2013, it could not match the rise in costs the company said.
The retailer has thrown in the towel after several failed attempts to improve performance in the north African country.
Clothing retailer Edcon has posted a first-quarter loss in excess of R700mn as a result of operational disruptions and falling sales.
South Africa’s biggest listed apparel retailer, Truworths, expects to report a 10% to 13% rise in full-year headline earnings per share.
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/ 16 January 2009
South African clothing retailer Foschini posted an 8,7% rise in third-quarter revenue on Friday, thanks to new stores.
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/ 6 November 2008
Truworths International has reported a 14% increase in retail sales for the first 18 weeks of the 2009 financial year.
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/ 22 February 2008
Clothing retailer Truworths posted on Thursday a 20% rise in half-year sales, at the low end of its expectations, as seven interest rate hikes crimped consumer spending. Truworths said group sales grew to R3,018-billion in the 27 weeks to the end of December, up 20% from the same period the previous year.