News

Edgars Stores Trading Update for the 13 Weeks Ended 10 October 2021

19 November 2021 The Company presents its business update for the third quarter (Quarter 3) of the 2021 financial year. This update on financial performance is measured in inflation adjusted terms. Trading environment The impact of level IV lockdown introduced after the heightened third wave infections in June, curtailed foot ...

Edgars Stores Abridged Reviewed Results for the 26 weeks ended 11 July 2021

21 October 2021 Chairman s Statement The statement is prepared on the basis of inflation adjusted numbers. CAUTIONARY- RELIANCE ON THE INFLATION ADJUSTED REVIEWED FINANCIAL STATEMENTS The Directors have exercised due care in applying judgements in the preparation of these financial statements. However there are material and pervasive impacts from the ...

Edgars Stores Directorate Changes

14 September 2021 The Edgars Stores Limited Board of Directors wishes to announce the following changes to its composition: EXECUTIVE DIRECTORS Retirement: Bright Ndlovu – CA (Z), MBL (UNISA), CIMA Bright Ndlovu has retired from the Board and as Chief Finance Officer (CFO) effective 31 August 2021. He was appointed to ...

Edgars Stores Notice of Appointment of Group Chief Finance Officer

14 September 2021 The Board of Directors of Edgars Stores Limited is pleased to announce the appointment of Ms HAPPINESS VUNDLA as the Chief Finance Officer with effect from 1 September 2021. Ms Vundla is a Chartered Accountant (Zimbabwe) with over 14 years’ experience in public practice. Happiness joined the Edgars ...

Jet Plays A Part In Alleviating Kids Cancer

20 July 2021 Jet Stores, a subsidiary of Edgars Stores Limited brought smiles to Kidzcan as it donated ZWL400 000 on the 13th of July 2021. The brand which is famed for knowing kids best, rallied its customers to buy KidzCan branded masks in commemoration of Orange Month, and ...

Edgars Trading Update for the AGM held on 30 June 2021

1 July 2021 The Group’s Historical ZWL YTD turnover to May 2021 increased by 450% compared to last year. Profit after tax as a percentage of turnover is down from 18.2% compared to May 2020 as affected by 7 weeks trading lost in January and February due to ...

Edgars Group Donates to Mpilo Doctors

15 June 2021 Edgars Stores Limited has responded to a call to assist the doctors at Mpilo hospital whose belongings and valuables were razed by a fire that gutted their accommodation end of May. Through the CSR arm – Edgars Helping Hands, the Group has put together several clothing ...

Edgars Stores Limited Notice of the 72nd Annual General Meeting

10 June 2021 Notice is hereby given that the 72nd Annual General Meeting of members will be held virtually at https://escrowagm.com/eagmZim/Login.aspx on Wednesday 30 June 2021 at 08:45 hours. Following is the Agenda for the meeting:- Ordinary Business To approve minutes of the 71st Annual General Meeting held on 16th ...

Edgars Stores | Release of 2020 Annual report

2 June 2021 Directors responsibility for the Integrated Annual Report The directors of the company are responsible for the maintenance of adequate accounting records and the preparation and integrity of the annual financial statements and sustainability report in accordance with the Zimbabwe Stock Exchange (ZSE) requirements, International Financial Reporting ...

Edgars Stores Trading Update for the 13 weeks ended 11 April 2021

26 May 2021 The company presents its business update for the first quarter of the financial year 2021. Trading Environment Trading for this quarter was significantly affected by the Covid-19 lockdown as physical stores were closed for more than 7 weeks of the 13 weeks in the quarter. Online stores ...

Jet Stores Unveils Its 28th Branch

11 May 2021 In a very exciting development for the brand, Jet Stores has increased its store footprint by opening a new branch in Harare, on the 23rd of April 2021, located in the city centre at the corner of Leopold Takawira and Kwame Nkrumah. Utilising the most of ...

Edgars Notice to Shareholders: Publication of 2020 Full Year Results

5 May 2021 The Board wishes to advise its stakeholders that following unanticipated delays in the finalization of the audit, Edgars Stores Limited “Edgars” has sought and obtained approval from the Zimbabwe Stock Exchange (ZSE) to defer publication of the financial statements for the year ended 10 January ...

EDGR.zw | Trading Update for the 53 weeks ended 10 January 2021

24 February 2021 The company presents its business update for fourth quarter ended 10 January 2021. Trading Environment The company recorded revenue growth across all business units during the quarter, particularly in December. The availability of merchandise, improved civil servants salaries, year-end bonuses and an enhanced credit offering to customers ...

EDGR.zw | Changes in Directorate

24 February 2021 The Edgars Stores Limited Board of Directors wishes to announce the following changes to its composition: NON EXECUTIVE DIRECTORS Retirement: Dr Leonard Ladislas Tsumba - (PhD) Dr Tsumba has retired from the Board effective 3 December 2020. He was appointed to the Board in 2006 and was a ...

Group CEO Covid-19 Update

19 January 2021 STAY SAFE; STAY WELL – COVID 19 LEVEL 5 LOCKDOWN BUSINESS IMPLICATIONS Dear Valued Customer, Compliments of the New Year! The Government announced lockdown provisions in a statement issued by theVice President and Minister of Health; Honorable Chiwenga advising the country is going into lockdown with effect from ...

Edgars Trading Update for the 39 weeks ended 4 October 2020

20 November 2020 The company presents the business update for third quarter ended 4 October 2020. Trading Environment The macroeconomic operating environment improved this quarter as characterised by exchange rate stability and slowing ination. As a result the company cautiously extended more credit to customers thereby increasing the number of ...

EDGR.zw | Release of 2019 Annual Report

15 October 2020 Introduction I am pleased to present the Edgars Stores Limited Group financial results for the 52 weeks ended 5 January 2020. The commentary on the financials is based on the inflation adjusted numbers. The historical numbers are shown as supplementary information as they have not been ...

EDGR.zw | Announcement of results of the Renounceable Rights Offer

9 October 2020 The following are the results of the Edgars Stores Limited Rights Offer which closed on 21 August 2020. Number of Rights Offer shares 274 658 112 Ordinary Rights Offer Shares subscribed 144 291 331 Percentage Subscription 53% Percentage taken by the Underwriter 47% Ordinary Shares issued to the Underwriter 130 366 781 The shares were issued ...

EDGR.zw | Issuance of Shares to Settle Rights Issue Underwriting Fees

9 October 2020 The Board wishes to advise its stakeholders that 5 493 162 new ordinary shares, being 2% of the 274,658,112 Rights Offer Shares, will be issued from the 95 752 219 ordinary shares of the balance of the authorised but unissued ordinary shares of the Company ...

EDGR.zw | Reviewed inflation adjusted interim financial results: 26 weeks ended 5 July 2020

9 October 2020 Group Chairman’s Statement The statement is prepared on the basis of inflation adjusted numbers. Business Overview Material disruptions stemming from COVID-19 had a significant impact on the group’s performance, most significantly in April and May due to enforced lockdowns.Since then sales have been steadily recovering. Units sold to ...

Edgars Trading Update for the 26 weeks ended 5 July 2020

25 August 2020 The company presents the business update for second quarter ended 5 July 2020. Trading Environment The conditions carried over from the first quarter remain largely unchanged as impacted by an unstable macro-economic environment exacerbated by the effects of Covid-19. Sales were trending upwards since lockdown relaxation but ...

Edgars Group CEO Covid-19 Update

24 August 2020 We are living in unprecedented times where the imperative is to contain the Covid-19 virus whilst continuing with essential economic activities to keep the country afloat. Under Level 2 Lockdown, our stores remain open to ensure you have access to our products and essential financial ...

Edgars | Extension of the Renounceable Rights Offer Period

14 August 2020 The Board wishes to advise its stakeholders that following the unanticipated delays in the reopening of the Zimbabwean Stock Exchange (“ZSE”), Edgars Stores Limited “Edgars” has decided to further extend the Rights Offer Period. The following new deadline dates and time will apply: Dealing and splitting ...

Edgars | Renounceable Rights Offer Further Extension

7 August 2020 The Board wishes to advise its stakeholders that following the unanticipated delays in the reopening of the Zimbabwean Stock Exchange (“ZSE”), Edgars Stores Limited “Edgars” has decided to further extend the Rights Offer Period by an additional one (1) week. Resultantly the Rights Offer closure ...

Edgars | Notice to Shareholders relating to the extension of the Renounceable Rights Offer period

20 July 2020 The Board wishes to advise its stakeholders that following the closure of the Zimbabwean Stock Exchange (“ZSE”), Edgars Stores Limited “Edgars” has decided to extend the Rights Offer Period by an additional three (3) weeks and resultantly the Rights Offer closure date has been revised ...

Edgars | Executive appointments

15 July 2020 The Board of Directors of Edgars Stores Limited is pleased to announce the appointment of Ms TJELUDO NDLOVU as the Group Chief Executive Officer with effect from 1 July 2020. Tjeludo is a career woman who holds among others, the Chartered Accountant (Zimbabwe) qualification. She joined the Edgars Group ...

Results of Extraordinary General Meeting

30 June 2020 Announcement of the results of voting at the Extraordinary General Meeting of shareholders of Edgars Stores Limited held at 12:00 AM on 16 June 2020 regarding the proposed Renounceable Rights Offer of 274,745,630 ordinary shares of a nominal value of ZWL$0.01 each, at a Rights ...

Edgars | Notice of 71st AGM

2 June 2020 Notice is hereby given that the 71st Annual General Meeting of members will be held at Edgars Training Auditorium, 1st Floor LAPF House, 8th Avenue/ Jason Moyo Street, Bulawayo, on 16 June 2020 at 10.00 hours. Shareholders are advised that in light of the current ...

EDGR.zw | Circular to Shareholders: Renounceable Rights Offer

26 May 2020 [Excerpts from the Circular] THE PROPOSED TRANSACTION The Board is proposing a Renounceable Rights Offer to recapitalize Edgars by way of a rights offer of 274,745,630 (Two hundred and seventy- four million, seven hundred and forty five thousand, six hundred and thirty) ordinary shares of a nominal ...

EDGR.zw | Notice of Extraordinary General Meeting

26 May 2020 NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting (“EGM”) of the Members of Edgars Stores Limited (“Edgars ” or “the Company”) will be held at LAPF 1st Floor, Corner 8th Avenue and Jason Moyo Street in Bulawayo on Tuesday, 16 June at 1200 hours ...

EDGR.zw | Group CEO's Trading Update: 13 Weeks Ended 5 April 2020

19 May 2020 Financial Reporting in Hyper Inflationary Economies - IAS 29 We are operating in a hyper inflationary environment and the entity will continue reporting in compliance with IAS 29. However, for this trading update, the Group reported based on historical cost. Group Performance The Group has not been spared ...

EDGR.zw | FY2019 analysts briefing presentation

15 May 2020 The Board of Directors of Edgars Stores Limited releases its 2019 audited financial results presentation, below are excerpts from the presentation. EXECUTIVE SUMMARY Functional currency: ZWL$. Implemented (IAS 29)-below commentary based on historical numbers Revenue growth: Group 241.8% (Edgars 283%, Jet 223%) PAT increase 507.2% to ZWL$ 51.6m. Good quality debtors ...

EDGR.zw | FY2019 audited financial results

13 May 2020 INTRODUCTION I am pleased to present the Edgars Stores Limited Group financial results for the 52 weeks ended 5 January 2020. The commentary on the financials is based on the inflation adjusted numbers. The historical numbers are shown as supplementary information as they have not been ...

Edgars Stores Notice to Shareholders: Publication of Year End Results

30 April 2020 Edgars Stores Limited would like to advise shareholders that the Group will not be able to publish its year end results for the 52 weeks ended 05 January 2020 by the 30th of April 2020 as previously announced. The delay has been a result of the ...

EDGARS | Publication of year end results

19 March 2020 Edgars Stores Limited would like to advise shareholders that the company will not be able to publish year end results for the 52 weeks ended 05 January 2020 by the 30th of March 2020 per the ZSE listing rules. The delay has been a result of ...

EDGARS | Cautionary Statement

3 March 2020 The Directors of Edgars Stores Limited ( Edgars or the Company ) wish to advise all shareholders and the investing public that the company is engaged in discussions that involve a potential transaction that may have a material impact on the value of ...

Edgars | Fighting breast cancer a Tee at a Time

14 February 2020 What s better than finding a great new t-shirt? Finding a great new t-shirt that supports a fabulous cause with every purchase! Every October Edgars Stores in Partnership with the Cancer Association of Zimbabwe (CAZ) makes a fashionable statement with purpose, in the fight against Breast ...

GMD's trading update for the 39 weeks ended 6th September 2019

22 November 2019 The Group's YTD turnover to September 2019 increased by 154% on last year while units sold were down 23%. The Group has not been spared from the impact of diminishing consumer purchasing power. EBITDA at $52.5 million was 604% up from last year. Inventory: The business is ...

Edgars | Notice to shareholders: Change in ownership of Bellfield Limited

11 November 2019 The Company has received notice from SSCG Africa Holdings Limited that it has recently concluded a transaction in which it has acquired from Edcon Limited 127,138,510 shares (through Bellfield Limited) representing approximately 41,07% of the issued share capital of the Company. By Order of the Board B ...

EDGR.zw | HY2019 financial results

31 October 2019 CHAIRMAN S STATEMENT FINANCIAL OVERVIEW Consumer spending was supressed, and continues to slow down, due to depressed salaries purchasing power. The business recorded negative unit growth, with only April and May performing positively in unit terms. In June, positive performance was again negatively affected by the introduction ...

Jet Stores taps into new markets

19 October 2019 The vibrant retail chain, Jet stores has opened yet another new branch in Banket this Friday 18 October 2019. The 149 square metre store is located at the heart of an affluent catchment area in the new Sam Levy`s Mall. Banket store which sports a fresh ...

Edgars Notice to Shareholders: Publication of Half Year Results

27 September 2019 Edgars Stores Limited would like to advise shareholders that it will not be able to publish its half year results to 30 June 2019 within the stipulated time frame which is ending on 30 September 2019. The delay has been caused by an internal system consolidation ...

Be a Hero……!!!

30 July 2019 It is amazing how much can be achieved, if all of us had super powers. Right? But the great thing is one does not have to be a super hero to effect meaningful change in the society. It s the seemingly ordinary acts that unleash our ...

EDGR.zw | Group Managing Director's Trading update- YTD May 2019

11 July 2019 The Group's YTD PAT to May 2019 grew to Z$ 8.7million from $1.3 million last year while EBITDA increased by 524% to $16.3 million. Turnover was up 90% on last year but unit sales decreased by 16% with recent improvement for the Jet chain with positive ...

Edgars Stores donates classroom furniture to rural school

11 July 2019 In some parts of Zimbabwe, there are children sitting on dusty floors all day, trying to concentrate and learn while the teacher is checking on progress navigating her way in between kids occupying the floor space. The gods would have smiled on them if they ...

JET Stores equips rural school

5 June 2019 In response to some of the challenges being faced by Mushumbi Primary School, Jet Stores a subsidiary of Edgars Stores Limited donated, on Monday 27th May 2019, classroom furniture and stationery to the school. The donation received by the school was a collaborative initiative of Jet ...

Edgars | Notice of 70th Annual General Meeting

4 June 2019 Notice to Members Notice is hereby given that the 70th Annual General Meeting of members will be held at Edgars Training Auditorium, 1st Floor LAPF House, 8th Avenue / Jason Moyo Street, Bulawayo, 11th July 2019 at 09.00 hours. Following is the Agenda for the meeting:- Ordinary ...

Edgars 2018 Annual Report released

4 June 2019 The Board of Directors is pleased to release the Edgars Stores 2018 Annual Report. Below are some excerpts from the report:- FINANCIAL OVERVIEW Foreign currency shortages necessitated an import substitution program which, through the efforts of our sourcing teams, was largely successful. Despite these endeavours, local production ...

All about the glitz and glamour at Castle Tankard

12 May 2019 Castle Tankard is one of the biggest horse racing competitions in Zimbabwe each winter. Beer lovers, fashion fiends, punters, music fans from around the country flock to the heart of Borrowdale, Borrowdale Race Course to see top artists from all genres perform live- and of ...

Edgars donates to Chikurubi Female Prisoners

2 May 2019 The emotional toll of having to wear the same set of undergarments for days, weeks, months end or non at all can be debilitating especially if you are a woman behind bars. In light of this Edgars donated 340 sets of under garments to Chikurubi ...