Edcon, like SAA, 'on life support for a long time' - analyst

2020-03-28 07:00

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 sells Edgars store cards to RCS

2019-10-28 19:55

Absa bought the card portfolio for R10bn in 2012

Competition Tribunal approves 'lifeline' Edgars merger with conditions

2019-05-09 17:30

The Competition Tribunal has approved, with certain conditions, a large merger that will see a new company purchasing the entire issued shares of Edgars.

Debt-laden Edcon in 'rescue' deal - report

2019-01-20 11:18

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.

Boss of Edgars, Jet, and CNA denies report of ‘collapse’ that could close 1,300 stores

2018-12-16 11:46

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 moves to a decentralised model

2018-04-20 05:56

Edcon has revealed its growth strategy for each of its retailers and says it does not plan to list on the JSE.

Edcon club fee ruled unlawful, NCR to determine refunds

2017-05-03 16:02

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 returns to profit after Bain cedes control

2016-11-22 18:40

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.

Edcon writes off $2.2m in Zim as Jet jumps to rescue

2016-03-18 09:04

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.

Mistletoe madness with #EdgarsSeasonSorted

2015-12-24 09:08

This festive season, Edgars is pulling out all the stops in a celeb-driven campaign like no other.

 

Embattled Edcon shuts down massive Rosebank Edgars store

2020-01-10 17:04

Struggling retailer Edcon has shut the doors of one its underperforming Edgars stores in Rosebank Mall as a cost cutting measure.

Competition Commission backs Footgear's plan to buy Edgars footwear brands

2019-09-13 14:00

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.

Edcon handed a lifeline in bid to save jobs

2019-04-30 17:19

The Competition Commission has recommended to the Competition Tribunal that the proposed acquisition of Edgars by New HoldCo be approved subject to conditions.

Ferial Haffajee: Is this why Edgars is in so much trouble?

2018-12-20 07:32

Edgars lost its golden thread and it's going to need a Midas touch to bring it back, says Ferial Haffajee.

Edgars parent to close Boardmans, La Senza and other chains in recovery plan

2018-07-05 11:24

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.

Zim currency woes to hit Edgars product range

2017-09-25 11:19

Edcon’s Zimbabwe-based clothing retailer Edgars says prevailing foreign currency shortages will impact its product range, particularly in the fourth quarter.

Edcon takeover deal gets Competition Tribunal's nod

2016-11-23 19:32

The Competition Tribunal has approved with conditions a deal allowing the takeover of Edcon by its creditors.

Bain Capital to sell Edcon in debt-to-equity deal

2016-09-20 14:58

Bain Capital plans to sell Edcon Holdings in a debt-to-equity deal, according to Edcon CEO Bernard Brookes.

Edcon seeks cost cuts as SA consumption slumps

2016-02-26 15:56

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.

Local stars get jolly for the silly season

2015-12-23 09:05

What’s your party trick? "Blowing bubbles out of my eyes!"

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