On entering the Jet store in Sandton City, Edcon CEO Bernie Brookes is met with welcoming but slightly apprehensive smiles by those staff members who recognise him. Some fidget with the clothing rails. Others affect a business-as-usual nonchalance. But you hardly need to look closely to realise that the clearance sales in the store are indicators of Edcon's failures and not a reflection of normality. "This was a spring clean for us. We are clearing a lot of the international brands that have been unsuccessful." Brookes, who has been on the job for just over a year, has dealt with the worst and weathered the blows as South Africa's largest non-food retailer has bled market share against the backdrop of declining credit sales. story_article_left1 However, signs of a changing retailer are slowly starting to emerge. This week, Brookes told Business Times the retail group had renegotiated a deal with Absa to provide 70% more opening credit to customers. Instead of entry credit of R1,600 ...
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