News

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

2 May 2019 The iconic Jet Stores which was officially opened in 2012, re-opened its doors in Kadoma on Thursday, 11th of April 2019, four months after it was razed to the ground by a fire that also destroyed its sister store, Edgars Stores. The new Kadoma branch, sports ...

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 ...

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 ...

1 April 2019 The month of March will forever be etched in the minds of many as the Black Month. Mountainous Eastern Highlands woke up to severe floods that left the Chimanimani reeling under the worst cyclones to be recorded in the history of Zimbabwe. The devastating effects ...

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 ...

1 March 2019 Edgars Stores Limited believes there are so many ways to get involved in our local and global communities. We are always inspired by other organisations and corporate entities that put their heart in the various projects that they run. Beginning of this year, the iconic fashion ...

1 February 2019 Have you ever imagined that there is more to a horse than riding it for sport or recreational purposes? Horse riding always sounds like a perfect weekend getaway activity - right? Well, it is, and unbeknown to many, horses are remarkable for people with disabilities ...

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 ...

2 January 2019 For a healthier, happier enviroment!!! At the wake of apparent effects of climate change, we have realised that there are countless ways to improve and protect our environment to change the world for the better. In partnership with Zimbabwe Climate Change Coalition, Edgars Stores, Ministry Primary ...

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 ...

20 December 2018 We wish if we could go back to the simplicity of Christmas days in the 1980s. When cassettes were still a thing and rice, chicken, coke as well as moving around the neighbourhood donning your new clothes were the true definition of Christmas. In the ...

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 ...

17 September 2018 Giving back to the community is more than just charity, it is a way of improving the quality and dignity of peoples lives in many ways. Everything you give will be useful to someone somewhere and will help beyond measure. As The Edgars Group we ...

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 ...

31 August 2018 We are eager to participate in sustainable initiatives. As Edgars we are driven by the belief that investing in people is a reality that works in eradicating poverty. At group level, we continue partnering with different rural schools across the country to create a conducive ...

30 June 2018 For a rural Zimbabwean child of school going age, fetching water is one of the daily core house chores which can be time consuming and exhausting. Access to water is synonymous with struggle, and this will leave one grateful for every drop of water. Imagine a ...

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 ...