Showers early. More sun than clouds. Cool.
Edcon has something in common with troubled state-owned airline South African Airways: it has been on life support for a long time, says Evan Robins, portfolio manager at MacroSolutions, Old Mutual Investment Group.
Absa bought the card portfolio for R10bn in 2012
The Competition Tribunal has approved, with certain conditions, a large merger that will see a new company purchasing the entire issued shares of Edgars.
Retail giant Edcon reached a non-binding agreement with unidentified investors to recapitalise and avoid selling some of its businesses, the Sunday Times reports, citing Chief Executive Grant Pattison.
The Sunday Times reported that the major retailer will close stores if an offer to landlords is rejected, which could wipe out 140,000 jobs in total.
Edcon has revealed its growth strategy for each of its retailers and says it does not plan to list on the JSE.
The Edcon group, which owns Edgars, maintains it did nothing wrong despite findings by the National Credit Regulator that it unlawfully charged its customers club fees.
Edcon has returned to profit after debt repayment costs eased following the exit of US firm Bain Capital, while the retailer cleared unwanted stock to boost sales.
Although Edgars recorded a turnover drop in Zimbabwe, the Jet chain’s turnover rose by 23% to $19.1m and contributed 31% to consolidated group turnover.
This festive season, Edgars is pulling out all the stops in a celeb-driven campaign like no other.
Struggling retailer Edcon has shut the doors of one its underperforming Edgars stores in Rosebank Mall as a cost cutting measure.
The Competition Commission has given the nod to Footgear's proposed purchase of Edcon's Edgars Active and High Key chain stores, saying it recommends the Competition Tribunal should approve the deal without conditions.
The Competition Commission has recommended to the Competition Tribunal that the proposed acquisition of Edgars by New HoldCo be approved subject to conditions.
Edgars lost its golden thread and it's going to need a Midas touch to bring it back, says Ferial Haffajee.
Edcon Holdings is planning to close chains including Red Square cosmetics and La Senza lingerie as part of a recovery plan to lure their customers to its flagship Edgars clothing stores.
Edcon’s Zimbabwe-based clothing retailer Edgars says prevailing foreign currency shortages will impact its product range, particularly in the fourth quarter.
The Competition Tribunal has approved with conditions a deal allowing the takeover of Edcon by its creditors.
Bain Capital plans to sell Edcon Holdings in a debt-to-equity deal, according to Edcon CEO Bernard Brookes.
Edcon is seeking R500m of savings as the company tries to halt a sales slide and woo customers, even as the country’s consumer confidence approaches a 14-year low.
What’s your party trick? "Blowing bubbles out of my eyes!"
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