Massmart’s Mitchell Slape optimistic about retailer’s recovery
Retailer’s share price has biggest gain on record to close almost 21% up bringing 2021 gains to 29%
Massmart CEO Mitchell Slape says the money-losing retailer can return to profitability by the end of the year after it cut operating costs, improved gross profit margin and boosted online sales.
Massmart, which owns Game, Builders Warehouse and Makro, posted a R1.8bn loss, its second successive annual loss. ..