The New Clicks group released an impressive set of interim results last week. The results will give investors confidence in the turnaround strategy being implemented by their CEO David Kneale and all indications are that the best is yet to come. To see the results click here.
Unfortunately their Musica division has been found selling counterfeit play-station consoles and memory cards. I don't believe for one moment that The New Clicks Group would intentionally sell illegal goods but the law does not regard a plea of ignorance to be solid defence. Given the group's high profile, we may well see the retailer harshly punished for their oversight. This must be a warning to all retailers to ensure that the goods that they purchase and sell need to be thoroughly scrutinised to ensure that they are not party to a crime. If the deal looks to good to be true then it's probably illegal!
On another note, I found today's eighty20 "Fact a Day" very interesting and in fact a bit alarming. Fact: Of South Africa's home owners, 34% inherited their home. 8% used a mortgage bond to finance it. (FinScope 2006). What is alarming about this fact is that if one considers that household debt to income ration is around 73% and only 8% of South African home owners have a mortgage bond then it stands to reason that only a very small percentage of household debt is financing an asset.
This must surely be the reason that the reserve bank is so concerned about the high levels of consumer debt.
Craig Ballantyne
craig@fastmoving.co.za
Please feel free to make comments or raise new issues by emailing the editor
editor@fastmoving.co.za
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NEWSBYTES
Musica faces piracy case
Popular national retail chain Musica has urged customers who believe they might have bought fake Playstation games from any of their branches to bring it to their attention.
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Pilchard's return to west coast brings new jobs to Mossel Bay
The fishing industry is over the moon after pilchard, which baffled the sector and scientists by migrating to the east and south coasts, returned to their traditional west coast grounds.
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Shoprite ends buyout talks with Brait
Shoprite said today it had ended talks on a proposed $2,14bn buyout from private equity firm Brait, which sent its shares up as much as 5%.
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Retail sales growth edges higher
Retail sales growth jumped to 10,1% year-on-year in March, official data showed today, pointing to consumer spending staying high and backing a case for higher interest rates.
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Major coup for Franklins, says Pick 'n Pay
Pick 'n Pay's Australian investment, Franklins discount supermarket chain, has confirmed that two former IGA stores have joined its ranks as franchises outside the existing store network. The Newtown and Springwood supermarkets - owned by Australian retail experts, the Lionis family - showed a combined annual sales turnover of AUD30 million last year and their coming on board is considered a major coup.
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Famous Brands to gobble up territory ahead of World Cup
Famous Brands, which last year opened a new restaurant nearly every second day, is continuing with its aggressive expansion plan ahead of 2010, with plans to open 120 franchises in the coming year.
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New Clicks rolls out more stores as turnaround strategy pays off
New Clicks will roll out 19 stores during the second half of its financial year after escaping the doldrums previously plaguing it.
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INTERNATIONAL NEWS
Agflation takes root as world food prices spiral
Food prices, historically as changeable as the weather, are often put to one side when central bankers and economists gauge inflation, but soaring prices for everything from maize to milk are forcing a rethink.
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Wal-Mart on the hot seat with investors
Investors will be closely watching whether Wal-Mart Stores Inc. meets its earnings forecast today after the world's largest retailer reported its worst decline in one-month sales at established stores in April.
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Investor puts ethics on Tesco's agenda
Supermarket giant Tesco could be forced to appoint an independent auditor to assess its ethics in trading with suppliers after a private investor garnered enough support to put the issue on the company's agenda at its annual meeting.
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Sainsbury to raise FY dividend this week - report
UK supermarket chain J Sainsbury will announce a hike in its full-year dividend this week in a bid to placate shareholders after it turned down a 10 bln stg takeover approach from a private equity consortium earlier this year, according to a report in the Sunday Telegraph.
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FEATURED BRAND
 | The Lion Match Company Lion Match places a large amount of their effort into research and development, and is continually striving to improve upon its product formulations and product technology - ensuring that the products are reliable and that the brand retains the household status it has acquired. Read more |
BRAND NEW
| The best thing since sliced bread Introducing Parmalat Maxi-Slice, the convenient slice-on-slice cheese for people on the go. Read more |  |
| Two great, new oral care products from Bio Revive Problems with the mouth are always painful and difficult to treat. Ointments or tinctures are the usual way of dealing with ulcers and cold sores but these can be difficult and messy to apply. Bio Revive® has produced two great new oral care products to deal with mouth ulcers and cold sores in a hassle free way. Read more |  |
BRAND ACTIVITY
| Douglasdale Dairy milks Bulls win (use a pic from activity) This week the dairy has brought out a limited edition "blue" 2 litre Full Cream milk bottle, which will be distributed in the Pretoria area from today (16 May) leading up to Saturday's Super 14 final. Read more |  |
| House of Coffees shows FNB employees how to bank on Pod's House of Coffees and First National Bank (FNB) recently teamed up to entertain and treat employees at BankCity FNB's head office. Employees stood the change to win one of forty Uno : Uno coffee machines. House of Coffees and Russell Hobbs combined their expertise two years ago to bring coffee lovers this innovation in coffee. Read more |
LIQUOR
 | Swartland Winery wins Gold at the Concours Mondial de Bruxelles Swartland Winery, well known for their superb Ports, scooped a Gold medal at the prestigious Concours Mondial de Bruxelles for their 2004 Vintage Port. Read more |
| Monis releases exclusive new wooded vintage Muscadel Monis, one of the oldest and most respected names in fortified wines in South Africa, has released its first vintage Muscadel since 1992, the wood matured Monis Vintage Muscadel 2000. Read more |  |
| Backsberg Viognier strikes gold at Swiss International Airlines Wine Awards Backsberg Babylons Toren Viognier 2005, a lightly wooded Viognier of exceptional flavour and complexity in Backsberg's esteemed reserve range, has won a gold medal at the 2007 Swiss International Airlines Wine Awards. Read more |
FEATURED RETAIL SERVICES
 | Executive Business Solutions |
 | BMI Foodpack |
RETAIL SUPPORT
 | Pyrotec innovation for Wellington The development of a Protag label with an attached Fold-On leaflet is a new Pyrotec innovation. Read more |
| Straight talking at Irish supermarket chain with Psion Teklogix voice picking software Irish supermarket chain Superquinn, based in Dublin, invested in excess of €400,000 with Psion Teklogix's Irish partner Heavey RF, to replace a label stock picking system with advanced voice picking technology. Read more |
MARKETING AND ADVERTISING
 | Bundling makes cents That's Hot Promotions offer a customised "value add" bundling opportunity, recent clients have experienced on-shelf sell thro' increases of between 5% and 30%. Read more |
 | State of the nation scoop for Primedia @ Home Distributing two million copies of the State of The Nation Address (SONA) to South Africa, in all its diversity, is a formidable task. Primedia @ Home took on the challenge presented by government and delivered - in under 20 days. Read more |
 | Three decades on, Country Fresh still looks fresh Sainsbury Design's potential was put to the test when the company was given the task of reviving Country Fresh's bland image over 15 years ago. Sainsbury Design came to the party by letting its creative juices flow. Read more |
| Smart Cart's new drive in vegetables and fruit sales Smart Cart has come up with another innovative first in ambient advertising with their new campaign for the Department of Health, which encourages consumers to spend their money on vegetables and fruit while doing their shopping. Read more |  |
EVENTS
18 - 27 May
Lovers of food, fun and the good life unite! It's Southern Africa's premier food, wine and lifestyle event, The Cape Gourmet Festival, and it promises culinary bliss!
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24 - 27 May - CTICC
Set your taste buds talking and get ready for some first rate celebrity chefs as they bring you mouth-watering, palate-tingling culinary delights!
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1-3 June - Robertson Valley
The festival will have something for everyone: food fundis, art and music lovers, outdoor and sporty types, the young, the old, and everyone in between!
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15 - 17 June - Gallagher Estate
Following on the success of this year's inaugural Jo'burg Wine Show, plans for the 2007 show are well underway.
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15 - 17 June - Gallagher Estate
Following on the success of this year's inaugural Jo'burg Wine Show, plans for the 2007 show are well underway.
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15 - 17 July - Gallagher Estate
The only event of its kind: The Food, Retail and FMCG expo!
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