Massmart-Walmart welcome Namibian supreme court decision
Massmart - Nov 4th 2011, 15:04
Massmart-Walmart welcome this morning’s ruling by the Namibian supreme court which upheld Walmart’s legal challenge to a Ministerial Notice imposing foreign investment restrictions in Namibia. The practical implications of this ruling are:
• Implementation of the merger in Namibia remains unaffected;
• The conditions imposed on the merged firm by the Namibian Competition Commission must be reviewed by the Minister of Trade and Industry; and
• Any conditions imposed by the Minster remain open to challenge by the parties as required.
The merged parties look forward to a speedy completion of the Ministerial review, and any further legal proceedings to which this may give rise.
Minister lauds Massmart supplier programme
03/10/2019 - 11:28
Economic development minister Ebrahim Patel has applauded retailer Massmart’s programme to procure products from small, local suppliers, which has reached the R1bn mark.
Massmart partners with Walmart’s global sourcing team to help local suppliers export to Walmart markets
10/09/2019 - 09:28
Representatives from Walmart’s Global Sourcing team are in Johannesburg to meet with 18 of Massmart’s South African suppliers who are interested in exploring opportunities to export their products to Walmart markets.
Makro and Game’s owner suffers big loss as shoppers opt for cut-price goods
29/08/2019 - 09:20
Walmart-controlled Massmart, owner of Makro, Game, Builders Warehouse and Dion Wired, has suffered a headline loss of R550 million for the six months to end-June – after earning a profit of more than R200 million in the same period last year.
Retail stocks: Look out for the potholes and opportunities
26/08/2019 - 16:22
Retailers and wholesalers on the JSE have been clobbered since their respective 2018 financial results.
Walmart Q2 revenue grows 1.8% year on year
20/08/2019 - 14:13
Total revenue of Walmart for its second quarter (Q2) of Financial Year 2020 (FY20) ending July 31 hit $130.4 billion, up 1.8 percent year on year, while the net sales of Walmart International decreased 1.1 percent year on year to $29.1 billion, the company reported.