History

Important dates and events in Edcon's history

1929 - 1938

• The first Edgars store opens its doors in Joubert Street, Johannesburg, on 6 September.

• The Johannesburg based Edgars store moves to 119 Longmarket Street, Cape Town.
• Sydney Press joins the company as a Christmas casual.
• 95% of merchandise is imported.

• Sydney Press opens the company's second Edgars store in Johannesburg at 81 Eloff Street (premises purchased for £500).
• Branches open in Germiston, Benoni and Springs.

• Branch opens in Durban, Cnr. West and Field Streets.

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• Hubert Press joins the company (credit control, retail administration, accounting and finance).

• Basil Press joins the company (mail order division and later development division).

• Rapid development/diversification takes place. Menswear and boyswear are added, then footwear, followed by fabrics, household textiles and jewellery.
• Listed on the JSE (Edgars Stores Limited). Directors are Sydney Press, Hubert Press, Eli Ross, Alan Leon.
• There are now 10 stores in the group with an annual turnover of £536 000.

• Trading commences in Zimbabwe.

• Eli Ross retires.
• Expansion continues.

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• Sydney Press's 25th anniversary with Edgars.
• Business now comprises 137 branches.

• Business now comprises 300 stores, 50 of which opened between 1965 and 1966.
• Imports now only account for 12,5% of sales.
• Press shows foresight in advocating a "more smoothly functioning distribution system" and "the evolution of such techniques as merchandise management accounting."
• Acquisition of Sales House.
• Acquisiton of 26 Werff Fashion Stores in the UK (disposed of in 1971).
• 7 Jet Supermarkets acquired.
• Hubert and Basil Press retire.
• Turnover approximately R40m.

• Acquisition of 5 Dan Hands furniture stores (1970 - 44 stores, disposed of in 1972).
• Jet expands rapidly - 35 stores in 1970, 42 stores in 1971.

• 1st Flagship Store (second generation) opens in Parow.

• 2nd Flagship Store opens in Durban.
• Johannesburg Distribution Centre officially opened by Dr. Sebastian Kleu, Chairman of the Board of Trade.
• 3rd Flagship Store opens in Market Street, Johannesburg - 10 000 m² in size.

• Adrian Bellamy appointed MD of Edgars Stores at the age of 34.

• Official opening of Edgardale (Edgars Group Corporate headquarters) consolidating offices from 17 different locations. "Not a building - an environmental structure."

• Edgars Stores celebrates 50-year anniversary.
• Turnover R216 million

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• Ackermans Chain (clothing and textiles) purchased from the Greatermans Group, with an emphasis on cash sales and keen prices. The Chain was sold to Pep in March 1984.

• Edgars becomes a subsidiary of The South African Breweries.
• Sydney Press resigns as Chairman after 47 years with the company (died May 1997).
• Adrian Bellamy appointed as Chairman of the Group.

• Edgars Sandton City opens (third generation store).
• Group turnover R558 million.
• Vic Hammond appointed as MD and CEO.
• J. M. Kahn appointed as Chairman.
• Edgars Stores Limited selected as one of South Africa's top 100 companies.

• Sydney Press opens Edgardale II.
• George Beeton appointed as Group MD.
• Turnover now R1 981 million.

• Donald Etheridge appointed as Group MD.
• Edgars and Sales House introduce an extended 12 month credit option (in addition to the 6 month credit option).
• Group now comprises 520 stores, 643 000 m².
• Turnover of R4 264 million.

• Five new concepts launched in Edgars - Red Square (cosmetics), The Issue (denim), Starting Block (sportswear), Studio Quattro (jewellery & watches) and Accessoreyes (sunglasses).

• A tough trading year as profitability declines on prior year on a sales growth of 10%.
• E.A.G. Mackay appointed as Chairman.

• Steve Ross appointed as CEO in September.

• Edgars unbundled from SAB.
• Internal restructuring to meet the changing market needs.
• Name changes to Edgars Consolidated Stores Limited, trading on the JSE as Edcon.
• W. S. MacFarlane appointed as Chairman.
• IT capability outsourced to Accenture (applications) and Comparex (infrastructure).

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• United Retail established to consolidate the various components of the Group's discount fashion operation. Multi-brand stores introduced.
• Launch of edcon.co.za in May, followed by edgars.co.za in September.

• The fashion component of the Group now comprises 723 facias in 429 trading locations with a turnover of R7.4 billion.
• A portion of the Group's debtors book is securitised.
• Purchase of Retail Apparel Group's debtors book and other assets.
• Implementation of growth strategy beyond fashion with the purchase of Super Mart (general merchandise) and CNA (books and stationery)

• Acquisition of various Thisday stores

• Purchase of Boardmans chain; 25 homeware and furniture stores

• Announcement of staff empowerment scheme
• Purchase of Topic chain

• Shareholders vote in favour of offer from Bain Capital
• Edcon is delisted from the JSE Limited