Edcon hampered by IT costs

[rpm]

Edcon hampered by IT costs

Edcon, the clothing, footwear and textiles retailing group, has bemoaned a 14.7% rise in "other operating costs" primarily as a result of IT costs.

 

[ChilliGirl]

I believe that the edcon group was bought by ABSA (or at least that is what an employee told me...)

 

[Kosmik]

Blame IT, take it away and you are a lot worse off. Rather blame slow uptake of technology and riding the last bit and byte of legacy systems until they are near collapse and then scrambling to update them rather than a gradual and steady update/maintenance cycle.

 

[Ou grote]

Blame IT, take it away and you are a lot worse off. Rather blame slow uptake of technology and riding the last bit and byte of legacy systems until they are near collapse and then scrambling to update them rather than a gradual and steady update/maintenance cycle.

Over here we call it "an expectation gap".

 

[egenis]

Is Accenture still doing their IT?

 

[The_Unbeliever]

Is it the licencing costs of Windows?

Switch over to Linux!

 

[akescpt]

I believe that the edcon group was bought by ABSA (or at least that is what an employee told me...)

got a letter yesterday informing me that absa i administering the loans now. they charge 21% interest!! im on the 6 month no interest account though.

 

[Wall]

Balance paid up and account closed, this December.

 

[Daz_A3]

Balance paid up and account closed, this December.

+1

No way I'm dealing with Absa

 

[Kloofvreter]

got a letter yesterday informing me that absa i administering the loans now. they charge 21% interest!! im on the 6 month no interest account though.

Balance paid up and account closed, this December.

+1

No way I'm dealing with Absa

I believe the 6 months account still charges no interest And 21% pretty much average compared to any other store card.

 

[The_Ogre]

I believe that the edcon group was bought by ABSA (or at least that is what an employee told me...)

got a letter yesterday informing me that absa i administering the loans now. they charge 21% interest!! im on the 6 month no interest account though.

From the mail:

We are pleased to advise you that Edcon Proprietary Limited ("Edcon") and Absa Bank Limited ("Absa") have entered into a strategic arrangement. On 1 November 2012 Absa became the credit provider for all South African customers with Edgars, Jet, Boardmans and Legit store cards.

Although Absa now provides the credit facility on your store card, it will be business as usual for you:

• Your credit limit and repayment terms remain unchanged;
• Your store card continues to be available for use; and
• You can continue to make your repayments as you have previously done.

According to Edcon the balance on your account and the applicable variable interest rate on your last statement dated 6 November 2012, were as follows:

• Account balance XXXX
• Unused portion of credit limit available to you XXXX
• Interest rate on debit balances - currently 21% (1)
• Interest rate on arrears - currently 21% (1)

 

[R13...]

I believe that the edcon group was bought by ABSA (or at least that is what an employee told me...)

Ignorant employee... ABSA is the financial services provider for their debt side. They would need it now that their new cards appear to be just like CC and can be used for lots of other transactions.

 

[hellfire]

Ignorant employee... ABSA is the financial services provider for their debt side. They would need it now that their new cards appear to be just like CC and can be used for lots of other transactions.

Correct - ABSA bought their debt, not their business

 

[akescpt]

I believe the 6 months account still charges no interest And 21% pretty much average compared to any other store card.

they had some strange wording for the 6 month interest free. something like : "21% interest waived for 6 month accounts". i read the sentence twice. sounded like it a special condition that might not be extended in the near future but im probably wrong.

arrears for the 6 month accounts is charged at 21% for the 6 month account. that i didnt know.

 

[ChilliGirl]

got a letter yesterday informing me that absa i administering the loans now. they charge 21% interest!! im on the 6 month no interest account though.

Those that have 6 months accounts, may keep them. However everyone applying for new must take 12 months, no choice.

My dislike for ABSA is so bad that I will not buy there, unless I cannot find the item elsewhere, then only for cash. Won't even use my bank card there.

 

[akescpt]

Those that have 6 months accounts, may keep them. However everyone applying for new must take 12 months, no choice.My dislike for ABSA is so bad that I will not buy there, unless I cannot find the item elsewhere, then only for cash. Won't even use my bank card there.

that explains it. got a weird feeling about that wording. absa, they suck no!?

 

[Daz_A3]

My dislike for ABSA is so bad that I will not buy there, unless I cannot find the item elsewhere, then only for cash. Won't even use my bank card there.

Amen