The bad news? Well, there is the small matter of an -87.4% decline in trading profit to R385m on an increase in revenue of +5.4% to R112.3bn. And the trading loss reported by Pick n Pay stores, where South African sales fell -0.2%, has triggered a R2.8bn non-cash impairment, resulting in an overall after-tax loss for the period of R3.2bn. Then there’s the departure of the founding family from leadership: with the recent R4bn rights offer, the Ackermans’ share of the business has dropped below the controlling stake of 50%, Gareth Ackerman has stepped down as Chair, and the family will no longer appoint the business’ leaders. The good news? Sales at Boxer (making up 33% of Group sales) and Pick n Pay Clothing both rose by over +17%, and online sales through Mr. D and the newly revitalised asap! app grew +74.4%. Returning CEO Sean Summers has a plan to turn things around, based on six strategic priorities: leadership and people; resetting the store estate; improving the offer to drive sales; optimising the operating model; recapitalisation; and leveraging the strength of partnerships. “This is a three-year turnaround programme,” he says. “We will work with vigour, energy and passion to get it right. We have a strong operational leadership team to help us set the business on a path of long-term sustainability.”

Comment: This thing is going to go one of two ways. And we’re hoping for a phoenix-like return, to maintain the balance and vibrancy of the FMCG retail sector. For more on these results, have a look at our summary here.

The quiet expansion of Woolies into a full-blown department store continues unremarked. This week, to the small but growing collection of global brands it offers it has added Apple products, including other tech from brands like Samsung, Huawei, Sony, Nokia, Hisense, Honor, Xiaomi, and Vivo, in an online offering very catchily called WConnect. Woolies has also opened Apple kiosks in a couple of stores – Menlyn Park and Sandton City. Leaning harder into private label this week, in the meantime, is Checkers, which has added to its housebrands and Forage and Feast premium private brand offering a new range called Foodie! (punctuation Checkers’ own), which it describes as a range of products that takes “the hassle out of cooking, combining top-quality fresh ingredients to provide a variety of options for an extraordinary at-home dining experience”. So lots of family-sized meals, exotic single-portion dinners, cook-in sauces, and even some seasoning pastes.

Comment: Two great businesses, working harder every day to keep the punters engaged.

This is not the beginning of the end, but it may be the end of the beginning, to paraphrase one famously feisty Brit, whose spirit has been invoked by suppliers pushing back against retailers wishing to squeeze every last penny from the traditionally lop-sided relationship. Posh grocer Sainsbury’s, you see, wants to charge suppliers up to £400,000 to access forecast data they had previously received from the supermarket for free. Sainsbury’s Horizon system dished out data gratis; suppliers who want the full package will have to pay for a “Silver Tier” subscription as the business migrates to its new platform. And some are simply refusing. “A strange way to try and make money,” says the put-upon KAM from one famous brand. “They should stick to putting things on shelf and selling them.” This trend – of retailers hawking data, in-store advertising and other add-ons, and suppliers refusing to cough up – is starting to hit these shores.

Comment: Notes Andrea du Plessis of Trade Intelligence: “We’ve been anticipating a tipping point in retailers squeezing suppliers. UK suppliers refusing to pay huge data fees indicates this shift.”

A pair – a brace? – of interims for you: first up, Tiger Brands, who saw profit after tax increase +16% to R1.4bn for the six months through March, even as revenue dropped -1% to R19.2bn, with price inflation of +8%, and volumes declining -9%. HEPS, a reliable mark of profitability, were up +11%. “We are confident in the immediate measures taken to streamline our operating model, coupled with clear targets for further simplification and enhancement,” noted the Striped One, which is coming at this thing with a new leadership team just bedding down. Next up, the excitingly acronymed RFG, formerly Rhodes Food Group, where revenue increased +3% to R4bn for the six months through March, with operating profit up a more-than-healthy +15% to almost R400m after slashing load shedding diesel costs. Notably, the business has gained market share against its competitors in this difficult ambit, with jams now number one in its offering and Hinds Spices number two.

Comment: Solid businesses catering to consumers across the economic spectrum, delivering the goods to shoppers and shareholders alike.

Entrenching itself on this great continent we call home this week is Coca-Cola, with the launch of a new variant, Coca-Cola Wozzaah, a blend of the rich tropical flavours of the continent and accompanied by various digital and physical experiences that drive home a message of creativity and cultural dynamism. “The latest Coca-Cola Creation celebrates the vibrancy and influence of Africa, immersing consumers in the limitless energy of the continent,” said Oana Vlad, Senior Director of global strategy. The limited-run beverage will be available for a short time in such markets as Nigeria, Algeria, South Africa, and Morocco. In a similar spirit, The Coca-Cola system in Kenya – consisting of the parent company and its main bottler, CCBA, has announced that it will up its investments in that promising geography by up to $175m over the next five years, should the business meet its current growth targets. The system directly employs over 10,000 people in East Africa, with ties to over 500,000 small businesses across the region, as retailers and suppliers.

Comment: Votes of confidence for the future of our continent, in a week when voting is much on our minds.

Some granularity on the perennially bad employment news, courtesy of CareerJunction’s employment insights for the first quarter. Across the board, hiring activity by businesses has declined -11% from the first quarter of last year, as a result, in part, of the parlous state of the dear old South African economy. “Economic instability or uncertainty, whether domestic or global, can dampen business confidence and investment, leading companies to be cautious about expanding their workforce,” explains CareerJunction. “Factors such as fluctuations in commodity prices, political instability, or changes in government policies can all contribute to economic uncertainty.” This has resulted in a YoY decline of -9% in admin, office and support jobs, -7% in business and management roles, -9% in finance and -26% in IT – all key employment sectors for SA’s already-embattled middle class.

Comment: These numbers will surely be of concern to retailers and manufacturers serving this important demographic in the months and years ahead.