An indefinite strike looms over Massmart and its Makro stores as wage disputes remained deadlocked after months of negotiations through Commission for Conciliation, Mediation and Arbitration (CCMA) facilitated processes.
Retail giant Massmart says it is leveraging the e-commerce capabilities of its US parent, Walmart, to build and grow its online and digital shopping systems in South Africa.
Massmart, the owner of Makro and Builders, says that plans to sell its Game store portfolio in East and West Africa have not delivered a "meaningful outcome" and will likely all be closed in due course.
Shoprite and Massmart, two of the biggest retailers in South Africa, have announced new financial products, including working capital, aimed at small and medium businesses in the country.
BusinessTech looked at the most recent annual financial reports and compared the country's five biggest listed retailers on 10 key metrics – from financial performance to investment and reach.
Walmart-owned wholesale group Massmart says it has seen a huge increase in demand for its private label brands as cash-strapped South Africans opt to entertain at home and look for more affordable foods.
Retail giant Walmart this week announced that it wants to buy the remaining shares in Massmart for R62 a share, having initially acquired a 51% stake in the South African business in 2010 at R148 per share - R16.5 billion.
Walmart Inc plans to take Massmart Holdings private and will promote the unit’s chief operating officer to head of the company as it prepares to renew its focus on South Africa.
US retailer Walmart is set to acquire the outstanding shares that it does not already own in South African retailer, Massmart.
Massmart Holdings fell the most in more than two months in Johannesburg after the Walmart-owned South African retailer said its first-half loss widened.
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