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ARTICLES RELATING TO RETAIL

A quick guide to who's probing Steinhoff

2017-12-14 07:47

At least six organisations are investigating global retail giant Steinhoff International following the abrupt resignation of its CEO and the dramatic share price plunge.

October retail slows ahead of festive season sales

2017-12-13 19:05

Retail sales increased 3.2% for October, compared to the 5.7% increase reported in September as consumers held back on spending ahead of Black Friday, says an analyst.

Investec says exposure to Steinhoff negligible

2017-12-11 11:01

Investec says losses from the Steinhoff saga could come to a maximum of 3% of post-tax operating profit as the exposure represents a small portion of the group's balance sheet.

Steinhoff calls in heavyweights to help defuse accounts crisis

2017-12-09 19:22

Steinhoff International's response to an accounting scandal that wiped €11bn from the value of the global retailer, has been to assign three board members to keep a closer eye on corporate governance.

Lenders have billions at risk as Steinhoff crisis deepens

2017-12-09 11:01

Blindsided by the sudden plunge in Steinhoff shares and bonds, US and European banks have been told they’d have to wait another week to confront the global retailer over an accounting scandal.

WATCH: Making sense of what's happening at Steinhoff

2017-12-08 16:15

Steinhoff International Holdings, the prized jewel in many an investment portfolio, has gone from hero to nearly zero in less than 60 hours, as Fin24 presenter Moeshfieka Botha explains.

Steinhoff share price: From R46 to R6 in under three days

2017-12-08 10:08

Steinhoff International's share price dropped to under R6 after CEO Markus Jooste's departure amid an accounting scandal.

SA joins Steinhoff probe

2017-12-07 22:00

South African regulators have joined the investigation into an accounting scandal at Steinhoff International that’s wiped over R150bn off the value of the global furniture and clothing retailer.

Steinhoff fights to survive after share plunge reaches 80%

2017-12-07 17:50

Steinhoff International has extended a record rout as concerns over an accounting scandal at the global furniture and clothing retailer outweighed its efforts to stay afloat by selling assets.

Steinhoff sheds more blood as analysts warn of further fallout

2017-12-07 10:58

Investors have continued their relentless beating of Steinhoff International, sending the share price down to an intra-day low of R11.00 amid an accounting scandal.

 

Black Friday, Cyber Monday distort SA picture - economist

2017-12-13 20:18

Sales prompted by Black Friday and Cyber Monday have likely disguised indications of remaining weakness in the SA economy, says economist Mike Schüssler.

Steinhoff said to win some bank support for credit extension

2017-12-12 18:48

Steinhoff International has started to gain support from key lenders as it seeks extra time to repay more than €1bn owed on a revolving credit facility, sources say.

Steinhoff hits junk as R282bn in value is lost

2017-12-10 06:00

Fallout over the share crash remains at fever pitch as the finance minister and trade unions lambaste the company over possible financial irregularities.

Union wants Markus Jooste banned from Cape Town horse race

2017-12-09 13:15

Public Servants Association has asked the organisers of a Cape Town horse race to ban former Steinhoff CEO Markus Jooste from entering his animals into the competition.

Banks, creditors to meet Steinhoff

2017-12-09 07:45

US and European banks are among creditors with billions of dollars in exposure to Steinhoff International whose asset value has plummeted amid an accounting scandal.

Christo Wiese may have lost over R30bn in less than three days

2017-12-08 14:15

SA businessman Christo Wiese may not be a dollar billionaire anymore, following the bloodbath in the share price of Steinhoff International.

Steinhoff woes mount as Moody's downgrades retailer by four notches

2017-12-08 07:07

Moody's Investors Service downgraded Steinhoff by four notches to B1, and placed the rating on review for further downgrade as an accounting scandal roils the global retailer.

Five ways in which Steinhoff could try to save itself

2017-12-07 19:28

Steinhoff International Holdings NV’s attempts to arrest the fallout over accounting irregularities have failed to restore investor trust.

Steinhoff starts selling assets to raise R16bn

2017-12-07 12:01

Steinhoff International has extended a record plunge in the wake of an accounting scandal and says it planned to raise at lease €1bn (R16bn) from an asset sale to boost liquidity.

German prosecutors still probing Steinhoff for possible accounts fraud

2017-12-07 07:17

The public prosecutor's office of Oldenburg in Germany says it is still investigating possible accounting irregularities and fraud at Steinhoff.

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