iMaverick: Business, Friday 26 August
- iMaverick Team
- 26 Aug 2011 (South Africa)
Analysis of Woolworths and Massmart results; strategist Musa Kalenga on how to attract the youth market; and Google fined $500 million for illegal drug advertising. By iMAVERICK TEAM.
With the exception of clothing in Australia, Woolworths sold more food and clothes at higher margins, with profits outstripping revenue growth nicely. There may or may not be room at the top, but once you're there it can be pretty comfortable, it seems. BY PHILLIP DE WET.
WALMART COSTS MASSMART ITS PROFIT GROWTH (FOR NOW)
Walmart SA (or Massmart, if you insist) didn't have a great year to the end of June: while its big competitors made out well, Massmart's profits were down nearly a quarter compared to the previous year. That, though, turns out to be all Walmart's fault. BY PHILLIP DE WET.
GENERATION WHY NOT?
About half of South Africa’s population of some 50 million people are under the age of 24. The youth market is not only the biggest market in South Africa, and one of the more sought after by big, mass consumer brands. It’s also the place where brands cock up the most because they simply don’t begin to get how to speak to urban youths. Celebrated youth strategist Musa Kalenga offers a couple of hints. By MANDY DE WAAL.
DRUG TRADER GOOGLE FINED $500 MILLION
In exchange for not being investigated for advertising illegal Canadian drugs, Google has agreed to surrender all the profits it made from the deals for six years to the Justice Department. No, we’re not speaking of crack cocaine or heroin – these were prescription drugs. By SIPHO HLONGWANE.
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