Massmart keeps faith with 50% Builders expansion plan
Despite underperformance of Game, CEO Mitchell Slape refuses to give up on the chain
07 March 2022 - 08:00
Massmart, which recorded a R2.2bn annual loss, will be expanding its Builders chain by 50% over the next five years and also hopes to increase Makro stores by about a quarter, a sign of confidence in the chains that have been a bright spot in its portfolio of brands.
The Walmart-controlled retailer, which extended its money-losing streak to a third consecutive year when its losses widened 25%, has been undergoing a tough turnaround plan under CEO Mitchell Slape, a Walmart insider...
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