Those Shoprite results then, delivered in energised tones by CEO Pieter Engelbrecht, eight months into his tenure in the cavernous surrounds of the impressive new-generation Cilmor DC in the Cape, complete with a phalanx of ceremonial forklifts and their beaming operators. Cut to the chase, though: turnover up +8.4% to R141bn for the year through to June, with trading profit up +11.6% to a hefty R8bn and diluted HEPS slightly ahead of that at +11.9%. The question on everybody’s lips, though, was whither, trading margin? Again, up: from 5.6% last year to 5.76% in the 2017 FY, a strong result,  despite the toughest conditions in recent memory, and Shoprite are citing a scientific +0.45% increase in market share, equating to additional sales of R1.5bn. Non-SA supermarkets were again an impressive performer, growing sales +11.7% compared with +8% back here in the Beloved C. Looking ahead, their strategic focus areas in a nutshell: customers first, grow LSM 8-10, private label, more franchise, Africa, strategic expansion from DCs like Cilmor which consolidates stock from 500 different suppliers. For a more detailed view of it all, click here.

Comment: So solid stuff as we’ve come to expect. And that shiny new DC, huh? Nice.

Amazon continues to be the fox in the hencoop that is international retail this week, with Walmart talking up its grocery offering, whence it derives 56% of annual sales, rolling out store pick-up to over 900 locations and training staff to pick the nice bananas for online orders. German discount outfit, Aldi, is partnering with start-up Instacart to trial grocery delivery in the Dallas area, while general retailer Target, which seems to have stopped the bleeding in its grocery department, is buying a logistics outfit to improve its own delivery capacity. Meanwhile, Amazon itself is raising money for its $13.7bn purchase of Whole Foods with the issuance of bonds, and rolling out pickup points in the US, where groceries can be picked up minutes after ordering. All of this as malls shed retailers left right and centre and adjust their own business models to focus on experience in an increasingly virtual shopping world. 

Comment: This is the sound of a paradigm shifting.

Taking one for the team this week – or rather, refusing to – is Initiative Media, who have declined to pitch for the SABMiller/Anheuser-Busch InBev (SABMABI?) account, which they have handled up to now, on the grounds that the commercial terms on offer were too onerous. For example, payment terms of 120 days, with an improvement to the 150-day terms, too, a scenario which would cost Initiative up to R20m per annum in bank interest charges. According to SABMABI, an acronym we shall be forced to use until they supply us with something less cumbersome, the terms apply only to big multinational suppliers; they will arrange terms less predatory for the smaller guy. And then something about global best practice and higher growth potential something something. Initiative have called on all agencies to stand together on this one, although without much hope. 

Comment: Have you ever been to a crocodile farm at feeding time? Like that.

Coca-Cola Beverages South Africa (CCBSA) is a business that in its earlier manifestations was not afraid to experiment with routes to market, notably those in the informal trade and off the beaten track. The tradition continues, with the Local Distribution Programme (LDP). The LDP began in 2011 as a way of empowering local entrepreneurs to become logistics partners in the Coke supply chain, providing them with training in customer service, stock management, IT systems and financial literacy. Among these entrepreneurs are a growing number of women – of the 126 LDPs set on their feet, 93% are equity businesses, and 20% are women – women like Verda Maluleka, who was working as a sales team leader at Coke itself when she took the opportunity: “I knew that it was my calling,” she says. “With this transition, I was still going to be part of the Coca-Cola family, yet be able to pursue my dreams of being an entrepreneur.” 

Comment: Inspiring stuff, at a time when we need more stories like this.

Couple of items re IMPERIAL Holdings this week: 1. They are buying 100% of UK motor dealership through their vehicle-sales subsidiary Motus for the consideration of 493m South African, and 2. They have put on hold the sales of their German agrochemical unit Schirm because the prospective buyers failed to pony up the asking price. Although to be honest, if we owned something called Schirm we’d also want to hold onto it. Both deals, though, fit into CEO Don Marco’s strategy of simplifying the business in its two divisions, IMPERIAL Logistics and ‘Moto Moto’ Motus. In June, you may recall, they offloaded insurance outfit Regent to Hollard for a tidy whack, and have reportedly flogged more than 80 properties since 2014 too.

Comment: Exciting times under a CEO we’ve always admired.

Retail sales grew +2.9% YoY for the month of June, with grocery retailers up +2.5%, an early indicator that South Africa might be dragging itself out of recession. But don’t pop the cork on the Gran Mousseaux Vin Doux just yet: things are still pretty dire with Moody’s warning that the continued bailout of underperforming State-owned enterprises (SOEs) could augur poorly for our credit rating. Other headwinds include a government revenue shortfall of R50bn against February’s budget, which was predicated on double the economic growth we’ve actually achieved; and a loss of some 84,000 jobs in the agricultural sector. Back to the bright side: The ratio of household debt to disposable income dropped to 73.2% in the first quarter, down from about 80% in 2013, further evidence that South Africans are beginning to practice a measure of necessary austerity. 

Comment: A perfect economic storm again, some of it of our own making.

Woolies have appointed media buffs TMI to handle their above-the-line media planning and buying, joining businesses like Kraft Heinz, Dunkin’ Donuts and Baskin Robbins as a recent win for the agency. TMI already handles Woolies digital portfolio, and were stoked to get the business after a robust pitching process.

Kevin Lovell, CEO of the South African Poultry Association (SAPA), has stepped down after 11 increasingly turbulent years at the head of the association, during which time he dealt with issues including dumping and cheap imports, the H5N8 avian influenza virus and an historic drought. He is succeeded by Dr Charlotte Nkuna as Acting CEO.

In something of a reverse for the business, Pioneer Foods reported that revenue had shrunk -4% for the ten months through June, after reporting a +2% increase for the first half of the year. This in the face of price deflation in maize, an economic slowdown, stiff price-based competition in the market and the lowest international prices in years.