For the first time in 137 years, give or take, Shoprite has, by its own rigorous standards, produced a less than stellar set of interims, growing sales 13.8% to R46.7billion year-on-year for the six months to end-December. “Where’s the problem?” you ask, as panicky investors cause the share price to decline 3%. It might be an issue of where the growth is coming from: 28.2% beyond our borders and just 11.5% here at home.  This as South African punters battle with high personal debt levels, rising electricity prices and persistent unemployment without the cushion of a couple of billion of barrels of offshore oil to fall back on – although the above-inflation wage increases, government grants and low interest rates should provide something in the way of mitigation.

Comment: The news has had some of the more breathless analysts speculating in their non-sequiturial way that this signals the beginnings of a resurgence for Pick n Pay, but come on.

The IGA brand, having arrived on these shores in ’02 and departed again in ’08, is back, this time in a partnership with Unitrade Management Services (UMS) with whom it shares a business model. IGA, you see, is the world’s largest voluntary supermarket network and includes nearly 5,000 Hometown Proud IGA independent supermarkets worldwide, with 36 DCs, operating all over the US and in 28 countries worldwide. UMS believe that the synergies between the businesses make the deal a no-brainer, as it is the goal of both “to assist independent retailers with building strong and successful businesses.” Accordingly, Unitrade is committed to growing its IGA-branded store count to 250 over the next five years. An exciting aspect of the partnership is that in partnership with the IGA Coca-Cola Institute, Unitrade will be launching the Unitrade Academy, which will provide SETA-accredited training to relevant management and staff.

Comment: A very big deal, and another vote of international confidence in our sector and our economy.

In another trading update which has failed to invigorate analysts (see Shoprite, above), Massmart have posted sales growth of 14.6% for the 26 weeks up to the 23rd of December, for a total of R36.1beelion. Within this Massdiscounters (that’s Game to you) grew by 7.7%, Masswarehouse (Makro) by 23.4%, Massbuild by 10.0%‚ and Masscash by 15.0%. The big disappointment, obviously, was Massdiscounters, which with its Foodco offering along with Cambridge and Makro’s existing food business is at the forefront of Massmart’s efforts to gain share in the grocery market. Some analysts have expressed disappointment that the effect of Walmart on the bottom line is not yet readily apparent.

Comment: But give them time, eh, okes.

Anglovaal Industries Limited (say it with an Illovo drawl) turned in a solid set of interims, all things considered – “all things” in this case being the less than pleasing performance of I&J. While the Group saw revenue increase 10.7% to R4.887billion for the six months to December, I&J’s sales volumes were down 14% for a number of reasons: small catches, unplanned maintenance on the fleet, higher fuel costs and no help at all from the jolly old rand. On the upside, the profitability of the Group has been done a solid by categories like creamer, biscuits, footwear and apparel which have benefitted from something called “volume leverage”.

Comment: Which sounds to us very much like they have been selling more Romany Creams and Jimmy Choos, possibly even to the same people.

Even as Tongaat Hulett walk the knife edge of indigenisation legislation in Zimbabwe, Nestlé have recommitted themselves to doing business in the country, having invested $12million in their operations there in 2012, setting up a new cereals manufacturing line and upgrading another. Nestlé has been operating in Zim for 53 years, and is currently in negotiations with the government over its indigenisation proposal. Whether these negotiations have been affected by Nestlé’s publicly-stated intention last year to stop buying milk from the farms of Robert Mugabe is uncertain. What is known is that the manufacturing plant in Harare is operating at 54% of capacity‚ beset inter alia by an irregular water supply, but above average for manufacturing concerns there.

Comment: A fascinating glimpse at what it takes to do business in sub-Saharan Africa’s favourite bread basket case.

Let’s face it, the dear old ZAR will be glad to have seen the back of 2012. It was one of the worst-performing developing-market currencies, losing 5% of its value against the dollar, due in part to sentiment stirred up by the miners’ strikes and the events at Marikana. This year, however, it seems already to be on its way back, firming last week to R8.50 to the dollar. But don’t go on that spree in the duty-free just yet: recent events in the farmlands of the Western Cape, and industrial unrest at Harmony Gold’s Kusasalethu mine could drag things south again – this despite the deceptively positive risk climate across the globe, which should be good for our currency.

Comment: And with Cosatu calling for global boycotts of South African grapes, the trouble in the winelands might cast a long shadow over the rand and indeed the economy.

Boxer Superstores, which is one of the brighter stars in the Pick n Pay firmament, is once again doing its bit for the youth of South Africa, sending 45 of them from all over the country on its annual Youth Leadership Programme, held each April in Zinkwazi on the KZN coast. Boxer, as you may know, have a particularly active and relevant programme of community engagement.

Walmart has announced that America’s military retirees no longer have to worry about where they might end up after the shooting is over. Walmart has generously offered every man jack of them a job when they leave the forces, literally. No military retiree will go jobless. The thinking for Walmart is that the military is one big logistics operation, and so are they, so a good fit. Then of course there’s the uniforms, the merciless discipline and the sense of being part of some grand undertaking so much bigger than oneself.