Massmart slumps as struggling consumers compound looting woes
02 August 2022 - 08:46
UPDATED 02 August 2022 - 22:59
As other retail businesses in SA posted a healthy first half but warned of tough times ahead, Massmart has already recorded a near R1bn loss in the six months to end-June, suggesting its turnaround plan to fix Game is not working.
Two years ago CEO Mitchell Slape, who has spent his career at Massmart’s majority owner Walmart, promised to fix the business, merging four units into two, outsourcing administration and IT support and closing Dion Wired...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.