Retailers They’re making a list(ing), and checking it twice
You may wish to pull out your well-thumbed copy of Investopedia for this one: Shoprite have apparently appointed a New York-based financial services company‚ BNY Mellon as the depositary bank for its American Depositary Receipt (ADR) programme, enabling well-shod punters in the US to buy Shoprite stock over the counter as a means of boosting investment generally. Pick n Pay, in the meantime, have opened not one but two premium stores (in Cavendish and the V&A) as part of their ambitious six-month plan to open 64 stores by end Feb, with the addition of 2.8% more selling space. SPAR are gaaning Angola toe with the opening, next week, of its first store in Luanda with a local partner, and four are planned for Mozambique next year, which is what we call a stake in the ground. And finally from the retailers, in a very big and meaningful gesture, particularly at this time of year, Massmart, Woolworths, Shoprite and Clicks will close on Sunday to enable staff to observe Madiba’s funeral with their families.