Massmart saves cash as sales fall due to lockdown
Group is in talks with landlords and is cutting capital expenditure as Covid-19 hits sales
18 May 2020 - 07:51
Walmart-owned retailer Massmart, whose brands include Makro and Game, says it is cutting capital expenditure and participating in talks with landlords over rental relief as it seeks to preserve cash.
The group, which has about 400 stores across Sub-Saharan Africa, said on Monday total sales for the 19 weeks ended May 10 fell 11.9% to R28.2bn...
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