{"id":1083,"date":"2020-12-18T21:17:40","date_gmt":"2020-12-18T21:17:40","guid":{"rendered":"https:\/\/www.africa-press.com\/south-africa\/?p=1083"},"modified":"2020-12-18T21:17:40","modified_gmt":"2020-12-18T21:17:40","slug":"restaurants-retail-feel-sharp-edge-of-covid-19","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/restaurants-retail-feel-sharp-edge-of-covid-19","title":{"rendered":"Restaurants, retail feel sharp edge of Covid-19"},"content":{"rendered":"

Africa-Press<\/a> – South-Africa<\/a>. <\/strong><\/span>DURBAN – The restaurant and retail sectors felt the full impact of Covid-19 this year with the closure of operations under level 5 lockdown.<\/p>\n

The sectors saw stores closed, crushing their ability to generate revenue, particularly in the first five weeks of hard lockdown.<\/p>\n

Listed restaurant groups, Spur Corporation and Famous Brands, reported a large decline in sales due to the closures.<\/p>\n

Spur reported a 21.7 percent decline in total sales to R6 billion for the year to end June, hurt by restrictions in the last four months of its financial year.<\/p>\n

Spur\u2019s South African sales decreased by 22.3 percent, while sales from international restaurants fell by 16.7 percent.<\/p>\n

The group pointed to restrictions in South Africa as having the biggest impact on its trading performance as local restaurant sales represent 88.5 percent of the group\u2019s total sales.<\/p>\n

South African restaurants stopped trading at the beginning of the nationwide lockdown on March 27.<\/p>\n

Famous Brands also fell into an operating loss of R110 million in the six months to end August, reversing an operating profit of R376m reported a year earlier.<\/p>\n

In South Africa and across leading and signature brands, its combined system-wide sales declined 51.2 percent while leading brands\u2019 system-wide sales declined 48 percent and signature brands\u2019 system-wide sales fell by 70.1 percent.<\/p>\n

Famous Brands chief executive Darren Hele said while the performance was disappointing during the year relative to historical performance, the results were a commendable achievement in light of the prevailing environment.<\/p>\n

\u201cAccording to the report published by Statistics SA in September: SA restaurant sales were down 100 percent year-on-year in April, 97.7 percent in May, 87.7 percent in June, and 75.9 percent in July,\u201d he said.<\/p>\n

Restaurants were allowed to trade again on a delivery-only basis from May 1, with collection service permitted from June 1.<\/p>\n

The easing of trading restrictions allowed the restaurant sector to earn much-needed revenue with Spur announcing its South African restaurants traded at 73.8 percent of the prior year\u2019s turnover, improving from 36.5 percent recorded in July and 56.7 percent for August.<\/p>\n

The retail sector also felt the harsh realities of Covid-19 as consumer spending dropped and unemployment continued to rise.<\/p>\n

Mr Price reported a 24.8 percent decline in earnings for the six months to end September, due to its reporting period falling under the trading restrictions.<\/p>\n

However, its earnings increased 6 percent after Covid-19 restrictions were eased.<\/p>\n

A positive trend for the retailers saw most companies reporting a surge in online sales, with Mr Price\u2019s online channel increasing by 71.5 percent from May.<\/p>\n

Spar Group\u2019s performance was muted during the year, with sales up by 4.8 percent during the 48 weeks to end August compared to 12.4 percent a year earlier.<\/p>\n

Statstics SA reported a 50.4 percent decline in retail sales for April under level 5 lockdown, compared to the same month last year.<\/p>\n

However, the opening up of the economy saw retail sales increasing by 1.1 percent in September.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. DURBAN – The restaurant and retail sectors felt the full impact of Covid-19 this year with the closure of operations under level 5 lockdown. The sectors saw stores closed, crushing their ability to generate revenue, particularly in the first five weeks of hard lockdown. Listed restaurant groups, Spur Corporation and Famous Brands, […]<\/p>\n","protected":false},"author":84,"featured_media":1082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,275],"class_list":["post-1083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-south-africa-2"],"yoast_head":"\nRestaurants, retail feel sharp edge of Covid-19 - South Africa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/restaurants-retail-feel-sharp-edge-of-covid-19\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Restaurants, retail feel sharp edge of Covid-19\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – South-Africa. DURBAN – The restaurant and retail sectors felt the full impact of Covid-19 this year with the closure of operations under level 5 lockdown. The sectors saw stores closed, crushing their ability to generate revenue, particularly in the first five weeks of hard lockdown. 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