HARARE, November 24 (The Source) – Meikles Limited revenue for the half year to September 30 grew 12 percent to $254 million from $225,9 million in the previous period with, the retail segment accounting for over 90 percent of income.
HARARE, November 9 (The Source) – Retail group OK Zimbabwe on Thursday said its net income more than doubled to $5,1 million in the six months to September, from $2,3 million in the comparable period last year on increased revenue and inflationary pricing.
By Simbarashe Zishiri, HARARE, May 31 (The Source) – Zimbabwe is good for business. Retail business. The country is frequently listed among treacherous economies where only intrepid investors dare tread, but those who have bet on Zimbabwe’s retail sector appear to be extracting good value.… Read More
HARARE, April 19 (The Source) – South Africa’s retail giant Pick n Pay says its Zimbabwe associate, TM Supermarkets (TM), delivered a strong 75 percent earnings growth in the full year to February 26 despite a tough macroeconomic environment marked by poor liquidity, rising unemployment… Read More
BULAWAYO, March 3 (The Source) – Regional retail group Choppies says its Zimbabwean operations have returned to profitability despite the difficult economic conditions that have slowed down consumer spending. The Botswana-headquartered grocer will release its half year financial results ended 31 December on March 14… Read More
HARARE, December 9, (The Source) – Electrical goods manufacturer Powerspeed, which reported a 45 percent decline in profit after tax in the full year to September from $780,000 to $454,000 weighed down by an increase in costs, says the import restrictions imposed by the government… Read More
By Simbarashe Zishiri, HARARE, November 21 (The Source) – Zimbabwe’s macroeconomic environment is worsening but for retail business, it continues to offer more business opportunities, higher revenues and profitability. After its recent travails, OK Zimbabwe this month announced a good set of financials, coming off… Read More
HARARE, November 18 (The Source) – A wholly local entity, Spar Zimbabwe, has taken custody of the South African retailer’s brand in the country following the closure of the Spar Group’s distribution centre. Spar Group chief executive Graham O’Connor told Reuters on Monday that the… Read More
HARARE, November 4 (The Source) – Retailer, OK Zimbabwe’s after tax profit for the half-year period to 30 September 2016 increased 87.1 percent to $2,3 million from $1,2 million in 2015 largely on lower costs. Chief executive Willard Zireva told an analyst briefing late Thursday… Read More
HARARE, August 5 (The Source) – Meikles Limited slashed its annual loss by 44 percent to $19 million in the full year to March from $34,8 million previously, driven by a strong performance in its retail units. The group’s total revenue grew 10 percent to… Read More
HARARE, July 29 (The Source) – OK Zimbabwe, the country’s biggest supermarket chain, says its operating profit for the first quarter of 2016 was up by over 100 percent above prior year as low overheads helped offset a five percent sales decline. OK Zimbabwe had… Read More
HARARE, September 18 (The Source) – Apparel retailer Edgars Stores’ after-tax profit for the six months to July 5 marginally declined to $1,045 million from $1,097 million registered in the prior year on increasing expenses, the company reported on Thursday. Despite revenue climbing to $31… Read More
BULAWAYO, September 20 (The Source) – South Africa retailer Shoprite has quit Zimbabwe, closing its only branch in Bulawayo on Monday this week. Shoprite opened the branch at the Bulawayo Centre in 2000, which remained its sole foray into the Zimbabwean market despite operating in… Read More