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Shoprite misses forecasts despite stronger home market

Aug 20 2019

JOHANNESBURG Shoprite Holdings missed full-year earnings forecasts on Tuesday, hit by inventory shortages in South Africa and currency devaluations in the rest of Africa, which overshadowed an improved second half in its home market.

UPDATE 2-Truworths looks to close loss-making stores of UK-based Office chain

Aug 15 2019

* Major financial restructure of Office is not being contemplated (Recasts with possibility of Office store closures)

South African retailer TFG to review Kenya, Ghana stores

Aug 15 2019

* Will consider GDP growth, lease negotiations before leaving

UPDATE 3-African telecoms group MTN says divestment plan on track after first-half sales

Aug 08 2019

* Shares down 2.1% after hitting year high on Weds (Adds fintech and instant messaging services)

UPDATE 2-Woolworths sees annual profit hit, writes down Australian business

Aug 01 2019

* Expects loss per share of between 92.4 cents and 129.3 cents

UPDATE 2-Massmart shares hit 13-year low after warns of loss

Jul 30 2019

JOHANNESBURG, July 30 Massmart has warned it expects to make a loss in the first half of the year as a result of softer than expected sales, margin weakness and higher expenses, sending its shares to a 13-year low.

UPDATE 2-South Africa's Shoprite shares surge on improved H2 sales

Jul 30 2019

* Rest of Africa to log annual trading loss (Adds details, shares)

Philip Morris launches first Africa store to spark alternative cigarettes demand

Jul 25 2019

JOHANNESBURG The South African unit of cigarette maker Philip Morris International Inc opened its first flagship store in Johannesburg on Thursday, as it tries to grow demand in Africa for its alternative heated tobacco product IQOS.

South Africa's Ramaphosa dealt twin blows in anti-graft fight

Jul 19 2019

JOHANNESBURG South African President Cyril Ramaphosa suffered two major setbacks on Friday, when he was accused of misleading parliament and his predecessor Jacob Zuma won significant concessions from a corruption inquiry.

Scandal-hit Steinhoff reports $400 million loss in first half

Jul 12 2019

JOHANNESBURG South African retailer Steinhoff reported a 356 million euros ($401 million) half-year loss from continuing operations on Friday, as the damage from a massive accounting scandal drags on.

World News