Posts tagged with 'sales'

 

Diamond sales at a record low $1 billion drop for current year

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The world-renowned De Beers Company is having an uphill battle in the world of diamond sales while the global economy looks less rosy.

With its seventh sales for the current year, it is already clear that the huge $1 billion drop in sales is indicative of a general slump in the diamond industry.

However, De Beers, who owns Anglo American, with 85% control, realized $ 280 million in sales for August, which is the seventh sales day of the year’s ten events.

De Beers is the world’s largest producer of uncut diamonds, but Russia is the largest, measured by carat production.

The economy is currently not favorable to the industry, as the drastic decline from last year’s $3.93 billion for the corresponding period of this year is only $2.91 billion.

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Well-known retail struggles heavily due to SA’s faltering economy and shows profit drop of over 18%

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Shoprite Checkers’ profits hit a big hit due to poor economic conditions and sales dropped drastically.

Rumors circulating that Rupert, Wiese and Steinhoff are the mafia of the Western Cape are even seen on the social network, and with their respective losses, ironically, it is seen as no coincidence.

Rupert lost R300m worth of luxury jewelry during an armed robbery at a downtown, Wiese’s 2019 shutdown of Shoprite shows a drop of more than 18% and Steinhoff is in chaos.

According to the latest Shoprite statements for the period ending June 30, sales show sales totaled R150bn and trade profits fell by more than 8%, but still managed to reach a total profit of more than R4bn.

The stores in South Africa generally performed well and accounted for 75% of the group’s total sales, which also indicates a more serious economic slump in the group’s foreign affairs.

The group’s foreign component realized a tradin
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Economist says consumers are facing a bit of pressure things could get tougher in SA

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JOHANNESBURG – While the latest retail trade figures show a slight increase in consumer confidence, there were fears that pressure on consumers’ income may still decrease sales.

Statistics South Africa released a report on Wednesday, showing an increase in retail sales which boded well for economic growth.

The main contributors to the increase were clothing, footwear, leather goods and general dealers.

The report showed that South Africans were tightening their belts amid tough economic times with food, beverages and tobacco recording negative growth of minus 0.1%. Annual growth sales for household furniture and appliances, however, showed growth of 5.2%.

Economist Isaac Mashego said these figures were encouraging.

“It does show some stability in consumer spending. Looking at unemployment figures, it shows that consumers are facing a bit of pressure and things could get tougher.”

Mashego said interest rate cuts a
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