Massmart says liquor ban cost it R770m in lost sales, as it racks up another loss
CEO Mitch Slape has work cut out to turn around the group as total sales rise just 4.4% in the 26 weeks to end-June
27 August 2021 - 09:39
Massmart racked up another loss in six months to end-June, underscoring the enormity of the task that lies ahead for new CEO Mitch Slape in turning around the fortunes of the struggling retailer.
Massmart, which owns household brands such as retail chain store Game and building material retailer Builders, is in the midst of a turnaround strategy that has seen it sell its loss-making Rhino and Cambridge food businesses to Shoprite Checkers over the past week...
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