Pepkor Holdings on Wednesday said third-quarter revenue rose 12% thanks to Easter sales falling within the quarter this year, but warned the outlook was still volatile as consumer spending remained under pressure.
Debenhams is quietly withdrawing from physical retail in Australia with its only store in the country set to close early in 2020 as it also starts its UK closure programme. It will continue to sell online in Australia.
South African retailer Steinhoff said an independent report had found it had overstated profits over several years in a $7.4 billion accounting fraud involving a small group of top executives and outsiders.
Poundland has received a big boost from its major move into the clothing sector and despite the problems at its South African parent company, its fourth quarter (the period to September 30) and full-year were strong.
Steinhoff's former CEO, Markus Jooste, told a parliamentary inquiry investigating an accounting scandal at the retailer that he was not aware of any accounting irregularities when he left the firm in December.