Star 2022-09-06

THE COMPETITION Tribunal yesterday heard submissions relating to the proposed merger of Shoprite Supermarkets acquiring certain stores from Massmart Holdings, as retailer Pick n Pay voiced its objections. Shoprite plans to acquire 56 retail supermarket stores and 43 retail liquor stores operated under the brand names Rhino Cash & Carry, Rhino Liquors, Cambridge Food and Cambridge Food Liquor, 10 wholesale (Cash & Carry) stores, two wholesale liquor stores; and Massfresh, with two entities: a meat-processing plant facility and Fruitspot, comprising three processing facilities in Cape Town, Durban and Johannesburg. The target businesses are active in the retail and wholesale trade of grocery, liquor, and associated items and are wholly owned and controlled by Massmart. Massmart is, in turn, controlled by Walmart. Last week, Massmart reported a headline loss…

FOR THE YEAR ended June 30, 2022, the group said its headline earnings per share increased by 6.1 percent to 530.6 cents compared to 499.9c last year. Group revenue increased by 4.3 percent and was supported by a combination of improved sales volumes in key categories and price increases to ameliorate significant cost pressures. The board declared a final ordinary dividend of 292c per share, resulting in a full-year ordinary dividend of 462c, which was 6.2 percent higher than last year, and in line with the growth in headline earnings, the group said. “The group’s performance in the first semester was disrupted by the civil unrest in July 2021, with all of our facilities and retail stores closed to safeguard our staff. “Direct losses amounted…

LABOUR and employers in the steel and engineering sector have hailed a “watershed moment” in the industry after the Labour Court dismissed an application by opposing employer organisations to have a harmonisation of entry level wages in the sector at R78 per hour. Standing shoulder to shoulder yesterday were the Steel and Engineering Federation of SA (Seifsa), the National Union of Metalworkers of SA, Plastic Convertors’ Association of SA (Pcasa), trade Union Solidarity, Metals and Electrical Workers Union of SA (Mewusa), Uasa and SA Equity Workers Association (Saewa) hailed the agreement by the Metals and Engineering Industries Bargaining Council (Meibc), which had requested the Minister of Employment and Labour to extend the Seifsa/Numsa Main Agreement to all non-parties in the Industry, including plastics recyclers. The National Employers Association of…

TRELLIDOR Holdings’s revenue fell by 1 percent to R513 million in the year to June 30, and headline earnings per share plunged by 99 percent to 0.4 cents, the company’s results showed yesterday. Included in the results was a provision for the Labour Court judgment of R32m. The group said household budgets were stretched and consumers traded down, resulting in lower demand for its higher-priced and premium pro- ducts. In addition, the subdued residential property market and increasing trend in estate living had a negative impact on sales of Trellidor’s traditional product. Trellidor’s distribution was predominantly through a national network of 51 franchise owners, essentially small businesses. The government’s response to the Covid-19 pandemic had a disproportionate negative impact on small businesses. The franchise network had…

Business conditions at South African firms continued to improve in August, the latest PMI data showed, although the rate of growth eased amid signs of a slowdown in customer demand. This comes after consumers were hit by steep price increases in July, with headline annual inflation rising to a 13-year high of 7.8 percent due to elevated fuel and food costs. The S&P Global South Africa Purchasing Managers’ Index (PMI) edged lower to 51.7 points in August from a 14-month high of 52.7 points in July. This reading signalled a modest improvement in business conditions in three months. S&P Global said both output and new orders grew for the fourth consecutive month, albeit at a slower pace, as customer demand appeared to ease. The rate of expansion…

Kelly Bensimon wants her own reality show. The 54-year-old former model and ex-Elle editor – who was married to fashion photographer Gilles Bensimon from 1997 until 2007 and has daughters Sea, 24, and Thadeus, 24, with him – now works as a luxury real estate agent but found fame appearing on Bravo hit The Real Housewives of New York City and would now love to front a show about her own busy life. She said: “I’d love to celebrate any show that highlights the world of real estate. I’m a multi-hyphenate – mama-bear of two girls, queen of clean, hunter for the chicest new interiors … “I’m a real estate broker. My life is a reality show. You can’t make this up!” | Bang Showbiz…