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Massmart appoints new CEO, but shares fall on warning earnings will halve

24/05/2019 - 08:39

Shares in Massmart, which owns the Game and Makro chains, fell 12.5% to R68.24 in early trade on Thursday after the retailer said earnings in the six months to June could more than halve.  

Massmart, which was bought by US retail giant Walmart in 2011, said it had seen “weak and variable sales trends” in recent months. The retailer said interim headline earnings “may be at least 50% lower” than a year before. Operating profit after restructuring costs, nontrading items, foreign-exchange... 


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New SANBWA guide reveals the tastes of SA's bottled water

24/05/2019 - 08:31

The South African National Bottled Water Association (SANBWA) has published a guide to the ‘taste’ of its members’ prod...

South Africans are spending less on their weekly shopping trip

23/05/2019 - 09:44

Tiger Brands, which carries brands including Koo canned foods, All Gold, and Tastic rice, said that revenue from continuing o...

Bidcorp expects higher food inflation in SA

23/05/2019 - 09:16

Global food-services group Bidcorp expects rising food price inflation in SA, where food producers and retailers are grapplin...

Another recession in 2019 is probable, warns Old Mutual economist

22/05/2019 - 10:21

SA will probably enter another recession given the weak performance in the first quarter of 2019, Old Mutual Investment Group...

Tiger Brands reports lower sales in wake of the listeriosis crisis

22/05/2019 - 09:29

Tiger Brands, which was named as the culprit in the 2018 listeriosis outbreak, says sales in the six months to end-March edge...

Bangladesh factory oversight deal risks worker safety, say unions

21/05/2019 - 16:35

The end of an international arrangement aimed at ensuring the wellbeing of Bangladeshi garment workers is likely to undermine...

Fine and rare South African wines to go under the hammer in unprecedented Strauss & Co auction

21/05/2019 - 16:08

Strauss & Co’s inaugural Fine Wine Auction, to be held in partnership with online retailer and leading Som...