News

14 November 2022 The Company presents its business update for the third quarter (Quarter 3) of the 2022 financial year. Trading environment The operating environment remains complex and challenging. In order to tame inflation, the Central Bank at the beginning of the quarter tightened monetary policy, increased interest rates from ...

13 October 2022 KEY HIGHLIGHTS Functional currency: RTGS$. Sales growth: Group 38.6% (Edgars 55%, Jet 28%). Group PAT increased by 540% to $ 1.2billion. 84.1% of the debtors book in current status. Negative operating cash flow: $ 596m. Stockholding increased by 35% on prior year. Weeks cover 21.8 weeks for Edgars Chain and 18.68 ...

10 October 2022 Chairman’s report Directors responsibility for the Integrated Annual Report The Directors of Edgars Stores Limited are responsible for the preparation and fair presentation of the Group’s consolidated financial statements. The reviewed interim consolidated condensed financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), ...

19 August 2022 Directors responsibility for the Integrated Annual Report The Directors of Edgars Stores Limited are responsible for the preparation and fair presentation of the Group s consolidated financial statements. The audited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), in the ...

2 August 2022 Notice is hereby given that the 73rd Annual General Meeting of members will be held virtually at https://escrowagm.com/eagmZim/Login.aspx on Thursday 25 August 2022 at 08:30 hours. Following is the Agenda for the meeting:- Ordinary Business To approve minutes of the 72nd Annual General Meeting held on 30th ...

27 July 2022 Chairman’s Statement Directors responsibility for the Integrated Annual Report The Directors of Edgars Stores Limited are responsible for the preparation and fair presentation of the Group’s consolidated financial statements. This press release represents an extract thereof. The audited financial statements have been prepared in accordance with International ...

8 July 2022 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 09 January 2022 by the 31st of May 2022 per the ZSE listing rules. The delay has been as a result ...

26 May 2022 OPERATING ENVIRONMENT The Quarter ended 10 April 2022 was characterised by an increase in inflation levels from 60.7% in December 2021 to 72.7% in March 2022. The rise in inflation has resulted in an increase in operating costs, with occupancy, employment, fuel and the cost of ...

26 May 2022 The Edgars Stores Limited Board of Directors wishes to announce the following changes to its composition: Appointment: Mr Christo Claassen CA (SA) Mr C. Claassen was appointed to the board as an independent non-executive director, effective 1 March 2022. Christo is currently the Founder and CEO of Fortuna ...

9 May 2022 Shoppers were in for a great Easter treat as Jet opened its 33rd branch at Avondale Shopping centre on Friday, 15 April 2022. The business is true to its growth promise of bringing fashion to customers’ doorsteps spreading its footprint across Zimbabwe. The new store ...

5 May 2022 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 09 January 2022 by the 30th of April 2022 per the ZSE listing rules. The delay has been as a result ...

25 February 2022 In pursuit of fulfilment of the Edgars Stores Limited growth, Jet Stores opened its 32nd branch at the corner of First Street and George Silundika Harare, on Friday, 25 February 2022. Renowned for offering feel good fashion for the whole family, the store features Jet s ...

14 February 2022 Edgars Zimbabwe has relocated its Borrowdale branch to a bigger and more accommodating location at Sam Levy Village. This is in line with the retail giant's strategy of opening new stores. Sporting new, refreshed  designs, the high end fashion giant, Edgars' Borrowdale branch is now  ...

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 ...

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 ...

20 October 2021 Leading fashion and lifestyle retailer, Edgars Stores ends the year on a high note as it opens new concept store at Avondale Shopping Centre, Harare. The reigning fashion retailer will debut the new branch on Friday 29th of October 2021. The Avondale store is unlike the ...

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 ...

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 ...

2 September 2021 Jet is slated to open its 29th store in Mutoko on Friday 10th of September 2021 - making it the 2nd branch to be opened this year. We are excited about this addition to our geographical footprint as it reinforces and accelerates the availability of the ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 [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 ...

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 ...

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 ...