Picture: 123RF/SOLAR SEVEN
Picture: 123RF/SOLAR SEVEN

Massmart has swung to an annual loss of more than R1bn.

This largely due to an impairment related to the group’s non-profitable stores in Massdiscounters and Masscash stores, including Game and DionWired. The divisions were hard hit during the period, with trading profit plummeting to a loss of R674m.

CEO Mitchell Slape joined Business Day TV for his analysis of the numbers and what it means for the group’s future growth.

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