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 ...
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 ...
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 ...
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 ...
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 ...
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 $52.5 million was 604% up from last year.
Inventory: The business is ...
11 November 2019 The Company has received notice from SSCG Africa Holdings Limited that it has recently concluded a transaction in which it has acquired from Edcon Limited 127,138,510 shares (through Bellfield Limited) representing approximately 41,07% of the issued share capital of the Company.
By Order of the Board
B ...
31 October 2019 CHAIRMAN S STATEMENT
FINANCIAL OVERVIEW
Consumer spending was supressed, and continues to slow down, due to depressed salaries purchasing power. The business recorded negative unit growth, with only April and May performing positively in unit terms. In June, positive performance was again negatively affected by the introduction ...
27 September 2019 Edgars Stores Limited would like to advise shareholders that it will not be able to publish its half year results to 30 June 2019 within the stipulated time frame which is ending on 30 September 2019.
The delay has been caused by an internal system consolidation ...
11 July 2019 The Group's YTD PAT to May 2019 grew to Z$ 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 ...
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 ...
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 ...
30 April 2019 CHAIRMAN S STATEMENT
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 was somewhat erratic due to the inability of our suppliers to source inputs. Imported product lines which could ...
4 April 2019 The Board has declared a dividend of RTGS 0.5 cents per share to shareholders reflected in the company s register on the record date being 3 May 2019.
Shares will trade cum-div until 29 April 2019 and ex-div from 30 April 2019. The payment date will ...
27 March 2019 CHAIRMAN'S STATEMENT
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 was somewhat erratic due to the inability of our suppliers to source inputs. Imported product lines which could not ...
25 March 2019 Reference is made to the notices published by Edgars Stores Limited ("Edgars"; or "the Company") on 22 January 2019 regarding the results of the Extraordinary General Meeting (EGM) of Edgars' shareholders where shareholders approved the proposed transaction by the required majorities and the conditions precedent ...
23 January 2019 The Directors of Edgars Stores Limited wish to advise shareholders that as per the Notice published on the 21st of December 2018, the company held the Extraordinary General Meeting of shareholders on the 16th of January 2019. The results of the voting on the proposed ...
21 December 2018 NOTICE OF THE EXTRAORDINARY GENERAL MEETING OF THE MEMBERS OF EDGARS STORES LIMITED
Notice is hereby given that an Extraordinary General Meeting ("EGM") of the members of the Company will be held at 10:00 hours on Wednesday 16 January 2019, at the Edgars Training Auditorium, 1st ...
30 October 2018 The Directors of Edgars Stores Limited wish to advise all shareholders that the Company is still engaged in discussions that may result in a transaction which may have a material impact on the value of the Company's shares.
The Directors therefore advise shareholders to exercise caution ...
25 September 2018 The Directors of Edgars Stores Limited wish to advise all shareholders that the Company is still engaged in discussions that may result in a transaction which may have a material impact on the value of the Company s shares.
The Directors therefore advise shareholders to exercise ...
18 September 2018 CHAIRMAN'S STATEMENT
Despite the challenging environment of foreign currency shortages and the threat this has on margins and merchandise assortments, the Group's sales of merchandise has grown from $24.1m in the half year to June 2017 to $31.1m in the same period in 2018, an increase ...
4 September 2018 The Directors of Edgars Stores Limited wish to advise all shareholders that the Company is engaged in discussions that may result in a transaction which may have a material impact on the value of the Company's shares.
The Directors therefore advise shareholders to exercise caution when ...
8 June 2018 The Group's turnover has grown by 37% on last year and 10% on budget. This is pleasing in the constrained environment of foreign currency shortages and the negative impact this has on margins and merchandise assortments. Growth in turnover has slowed due to underplanning of ...
17 May 2018 The Board of Directors of Edgars Stores Limited is pleased to release the 2017 annual report. Below are excerpts from the Chairman's Report.
Chairman's Statement
Improvements in merchandise assortments, customer service, promotions, revamps and the new political dispensation together with utilisation of excess RTGS balances resulted in ...
26 April 2018 Notice is hereby given that the 69th Annual General Meeting of members will be held at Edgars Training Auditorium, 1st Floor LAPF House, 8th Avenue/Jason Moyo Street, Bulawayo, 7th June 2018 at 09.00 hours. Following is the Agenda for the meeting:-
Ordinary Business
1. To approve minutes ...
28 March 2018 The Board has declared a final dividend of US 0.33 cents per share payable in respect of all ordinary shares of the Company. This dividend is in respect of the financial year ended 7 January 2018 and will be payable in full to all the ...
28 March 2018 Edgars Stores Limited releases its 2017 abridged financial results and presentation for the period ended 7 January 2018. Below are excerpts from the results and Chairman s Statement.
Chairman s Statement
Improvements in merchandise assortments, customer service, promotions, revamps and the new political dispensation together with utilisation ...
19 September 2017 CHAIRMAN'S STATEMENT
Good merchandise assortments and a resurgent consumer spend assisted the Group to end the first half on a positive note. Revenue of $24.7 million (2016: $23.1 million) increased by 7% from the same period last year. Group gross profit margin of 43% reduced by ...
7 June 2017 The operating environment remains tough with foreign currency shortages, cash shortages and depressed consumer demand.
The business is performing within forecast.
New stores
No new stores have been opened YTD.
We are currently revamping Stanley House, First Street Harare. This will be completed in August.
Following that we will be ...
15 May 2017 Notice is hereby given that the 68th Annual General Meeting of members will be held at Edgars Training Auditorium, 1st Floor LAPF House, 8thAvenue /Jason Moyo Street, Bulawayo, 7thJune 2017 at 09.00 hours. Following is the Agenda for the meeting:
Ordinary Business
To approve minutes of the ...
22 March 2017 Edgars Stores Limited releases its 2016 abridged financial results for the period ended 8 January 2017. Below are excerpts from the results and Chairman s Statement.
Chairman s Statement
Depressed consumer demand for clothing together with stock movement challenges we faced in the transition period from the ...
3 March 2017 NOTICE IS HEREBY GIVEN OF AN EXTRAORDINARY GENERAL MEETING OF MEMBERS OF EDGARS STORES LIMITED TO BE HELD AT THE EDGARS TRAINING AUDITORIUM, 1ST FLOOR LAPF HOUSE, 8TH AVENUE / JASON MOYO STREET, BULAWAYO, 17 MARCH 2017 AT 0900HOURS
AGENDA
SPECIAL BUSINESS
To consider and if deemed fit, ...
30 September 2016 Edgars Stores Limited releases its 2016 interim financial results for the period ended 9 July 2016. Below are excerpts from the results and Chairman s statement.
Consumer demand continued to weaken throughout the period due to the combined effects of drought, liquidity constraints, business failures and ...
10 May 2016 Notice is hereby given that the 67th Annual General Meeting of members will be held at Edgars Training Auditorium, 1st Floor LAPF House, 8th Avenue / Jason Moyo Street, Bulawayo, 2 June 2016 at 09.00 hours. Following is the Agenda for the meeting:-
Ordinary Business
To approve ...
10 May 2016 The Group performed relatively well given the sharp decline in the operating environment and economy as a whole. However, the Group was not entirely spared, and saw a marked reduction in consumer appetite and confidence reflecting in turnover, which trend became more pronounced in the ...
16 March 2016 Edgars Stores Limited releases its 2015 abridged financial results and presentation for the period ended 9 January 2016. Below are excerpts from the results and Chairman s statement.
Edgars Stores Limited Group CEO, Linda Masterson (left) and Group Operations Director, Vusimusi Mpofu (right) at a recently ...
15 September 2015 Edgars Stores Limited releases its 2015 interim financial results for the period ended 11 July 2015. Below are excerpts from the results and Chairman s commentary.
Group CEO of Edgars Stores Limited, Linda Masterson
Chairman s statement
Fast declining economic fundamentals, combined with low disposable incomes and heightening ...
28 May 2015 Trading update given at the 66th AGM held on 28 May 2015.
Trading environment remains tough.
We are performing well under the circumstances.
New stores
No new stores have been opened during 2015, which we believe is a year of consolidation of our operations.
Turnover (consolidated)
Unit sales
12.6% increase over 2014 ...
27 May 2015 Notice is hereby given that the 66th Annual General Meeting of members will be held at Edgars Training Auditorium, 1st Floor LAPF House, 8th Avenue/ Jason Moyo Street, Bulawayo, 28 May 2015 at 09.30 hours. Following is the Agenda for the meeting:-
Ordinary Business
To approve minutes ...
20 March 2015 Edgars Stores Limited releases its 2014 abridged financial results and presentation for the period ended 10 January 2015. Below are excerpts from the results and Chairman s commentary.
Group CEO of Edgars Stores Limited, Linda Masterson
CHAIRMAN’S STATEMENT
The Group achieved satisfactory results which were largely due to ...
17 September 2014 Edgars Stores Limited releases its 2014 interim financial results and presentation for the period ended 5 July 2014. Below are excerpts from the results and Chairman s commentary.
Group CEO of Edgars Stores Limited, Linda Masterson
Financial highlights
Retail sales up 8% to $29.5m
Profit before tax remained ...
3 June 2014 Revenue
The year started fairly positively with successful results from Back to School Back to Work which gave a boost to January. From then, the quarter was downhill all the way. The uncertainty surrounding civil servants’ packages and the acute liquidity crunch in the ...
8 May 2014 Notice is hereby given that the 65th Annual General Meeting of members will be held at Edgars Training Auditorium, 1st Floor LAPF House, 8th Avenue / Jason Moyo Street, Bulawayo 29 May 2014 at 09:30 hours. Following is the Agenda for the meeting:
Ordinary Business
To approve ...
11 March 2014 The Directors of Edgars Stores Limited announce the release of the Group s abridged financial results and presentation, for the 52 weeks ended 4 January 2014. Below are some financial highlights.
Group CEO of Edgars Stores Limited, Linda Masterson at the recently held FY2013 analyst briefing.
Financial ...
17 September 2013 Edgars Stores Limited releases its 2013 interim financial results and presentation for the period ended 6 July 2013. Below are excerpts from the Chairman s commentary.
Picture: Edgars Group Managing Director, Linda Masterson
Introduction
The conclusion of the medium term guaranteed loan in December 2012, coupled with improvement ...
31 May 2013 Details:
Shares before: 288 767 204
Shares added: 103 334
New shares in issue: 288 870 538
Effective date: 31 May 2013
Reason: Share Option Scheme
ay 31, 2013
15 May 2013 Details:
- Shares before: 288 517 204
- Shares added: 250 000
- New shares in issue: 288 767 204
- Effective date: 15 May 2013
- Reason: Share Option Scheme
10 May 2013 The Board of Directors of Edgars Stores Limited is pleased to release the annual report for the year ended 31 December 2012. Below are excerpts from the Chairman s Report.
Chairman s Report
Aggressive account drives, marketing, finalization of re-branding Express Mart Stores to Jet as well ...
10 May 2013 Notice is hereby given that the 64th Annual General Meeting of members will be held at Edgars Training Auditorium, 1st Floor LAPF House, 8th Avenue/ Jason Moyo Street, Bulawayo , 29 May 2013 at 09.30 hours.
Following is the Agenda for the meeting:-
Ordinary Business
...
24 April 2013 Details:
- Shares before: 287 972 037
- Shares added: 545 167
- New shares in issue: 288 517 204
- Effective date: 24 April 2013
- Reason: Employee Share Option Scheme