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    SPS.A   CA84920P1053

SPORTSCENE GROUP INC.

(SPS.A)
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Sportscene : Retail Clothing Group Closes Shops At Maerua Mall

03/16/2021 | 12:06pm EDT

Entertainment | 2021-03-15

Natasha Uys

AMID significant revenue losses across the retail sector, Sportscene and The Fix branches at Maerua Mall shut down recently.

This leaves one Sportscene branch at Grove Mall, and one The Fix branch at Wernhil Park still in operation in Windhoek.

Both outlets are owned by The Foschini Group (TFG), which has seen declining sales and revenue over the last year due to the impact of Covid-19.

With thousands of people across South Africa and Namibia having lost their jobs or taken salary cuts, as well as more people working from home, clothing sales have dropped dramatically.

"This has been a long time coming," says a Sportscene employee.

"It's no surprise for us who work in retail. We are always aware that closure is a very real possibility. We are just grateful to still have our jobs. We work hard to make more sales to stay afloat."

Efforts to get comment from TFG regional manager Stefan Hyman proved unsuccessful at the time of going to print.

Copyright The Namibian. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

Stocks mentioned in the article
ChangeLast1st jan.
SPORTSCENE GROUP INC. 0.00% 3.82 Delayed Quote.-5.68%
THE FOSCHINI GROUP LIMITED -0.45% 130.99 End-of-day quote.28.03%
All news about SPORTSCENE GROUP INC.
07/15SPORTSCENE : reports its third quarter results for fiscal 2021
AQ
04/15Sportscene Group Inc. Reports Earnings Results for the Second Quarter Ended February 28..
CI
04/15SPORTSCENE : reports its second quarter results for fiscal 2021
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03/16SPORTSCENE : Retail Clothing Group Closes Shops At Maerua Mall
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01/28Sportscene Group Inc. Reports Earnings Results for the First Quarter Ended November 29,..
CI
01/28SPORTSCENE : reports its first quarter results for fiscal 2021
AQ
2020SPORTSCENE : reports its fourth quarter and annual results for fiscal 2020
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2020Sportscene Group Inc. Reports Earnings Results for the Full Year Ended August 30, 2020
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2020Sportscene Group Inc. Reports Earnings Results for the Third Quarter Ended May 24, 2020
CI
2020SPORTSCENE : Reports Third Quarter Results
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More news
Financials
Sales 2020 110 M 88,8 M 88,8 M
Net income 2020 -3,86 M -3,12 M -3,12 M
Net Debt 2020 45,0 M 36,4 M 36,4 M
P/E ratio 2020 -6,70x
Yield 2020 4,95%
Capitalization 33,0 M 26,8 M 26,7 M
EV / Sales 2019 0,53x
EV / Sales 2020 0,65x
Nbr of Employees 1 700
Free-Float 26,3%
Chart SPORTSCENE GROUP INC.
Duration : Period :
Sportscene Group Inc. Technical Analysis Chart | SPS.A | CA84920P1053 | MarketScreener
Income Statement Evolution
Managers and Directors
Jean Patrick Bédard Chairman, President & Chief Executive Officer
François-Xavier Pilon Vice President-Finance
Claude Huot Director-Information Technology
Jean-François Dubé Vice President-Operations & Food Services
Nelson Gentiletti Lead Independent Director
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