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South Africa's Mr Price Suffers First Annual Profit Drop In 16 Years

South Africa's Mr Price Suffers First Annual Profit Drop In 16 Years

A string of ANC allies have also urged Zuma to go, among them the Congress of South African Trade Unions (Cosatu), the South African Communist Party (SACP) and the South African Council of Churches (SACC).

website laten makenEarlier this year, Kellogg said it would close nearly 40 distribution centers and use a warehouse system. It said it would be ending direct delivery of products to supermarkets and big-box retailers and instead ship those products to warehouses before they move to retailers' distribution centers. That's a system the company already was using for the majority of its products.

Facilities in Charlotte and Greensboro, North Carolina, will also close, affecting 500 workers. It will close a center in Sharonville, Ohio, and lay off nearly 250 employees. Other closings include centers in Houston and Fort Worth, Texas, affecting 420 workers. The Battle Creek, Michigan-based company will shut down a distribution center in Memphis and lay off 172 workers.

The ministry said in a statement carried by Russian news agencies that the crash landing could have been caused by the failure of one of the plane's engines. It said the injured crew members have been hospitalized.

The plane was landing after a training mission. The Defense Ministry said the An-26 belonging to a military flight school crash-landed and caught fire in Balashov, 570 kilometers (355 miles) southeast of Moscow.

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The party -- which Nelson Mandela led to power in the 1994 post-apartheid elections -- has recently lost popularity, taking just 55 percent of the vote in last year's local elections, its worst ever result.

Mr Price, which also sells homeware and furniture, is facing increased competition from international chains including Zara, H&M and Cotton On and has lost market share as local competitors, such as the ailing Edcon, mark down stock.

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Mr Price blamed a drop in sales on weak consumer sentiment and the knock-on effects of political turmoil which culminated in President Jacob Zuma firing finance minister Pravin Gordhan in March and credit ratings agencies downgrading the nation.

The company said improvement in the consumer environment is likely to only be gradual, but added that it was seeing encouraging signs in the current financial year. (Reporting by TJ Strydom; editing by Jason Neely and Keith Weir)

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Sales have been declining since 2013 at Kellogg. Kellogg and competitors like General Mills and Post have been cutting costs and changing strategies as consumer trends shift away from processed foods in North America, a key market for Kellogg.

2 percent gain in the JSE's benchmark Top-40 index, as the company kept its full-year dividend at 667 cents per share. But shares in Mr Price were up 5. 50 rand by 0824 GMT, compared with a 0.

JOHANNESBURG, May 30 (Reuters) - South Africa's Mr Price Group Ltd posted a 12 percent drop in full-year earnings, the first annual profit decline since 2001, as consumers struggle in a sluggish economy.

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Kellogg is closing distribution centers around the nation, laying off more than 1,000 workers. If you liked this report and you would like to obtain more data regarding website laten maken antwerpen kindly take a look at our web-site. The company is following through on a prior decision to shift to a warehouse system. FILE - In a Wednesday, July 18, 2012, file photo, Kellogg's cereals are on display at a Pittsburgh grocery market. It has been cutting costs as sales decline amid changing consumer trends.