Massmart loses almost R1bn as it sells fewer goods
29 August 2022 - 12:12
Massmart, which is subject to a potential buyout from majority owner Walmart, made a R903.5m headline loss in its six months to June, as consumers cut back on spending on big-ticket items such as televisions and treadmills.
Total sales from continuing operations rose to R38.1bn, an increase of 1.9%, but the half-year loss hit almost R1bn after a R1.6bn annual loss in 2021 and a R1bn loss in the full 2020 financial year. ..
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