Massmart reports first trading loss since JSE listing
30 July 2019 - 15:57
UPDATED 30 July 2019 - 20:02
Walmart-controlled Massmart on Tuesday reported its first trading loss since listing on the JSE in 2000, underlining the daunting task facing new CEO Mitchell Slape.
News of the loss saw the company’s share price plunge 27% to a 13-year low of R42.99 on Tuesday before recovering to close 15.45% weaker at R49.80. The closing price is roughly a third of the R148-a-share that US retail giant Walmart paid for a 52% stake in the retailer in 2011...
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