Walmart deal hits Massmart profit
Fin24 - Jul 25th 2011, 09:53
Retail group Massmart Holdings said on Monday it is expecting headline earnings per share of between 397c and 442.4c for the 52 weeks to June 26 2011.
This is compared with HEPS of 567.2 cents for the previous comparable period.
HEPS before the Walmart costs are expected to be between 595.6c - 640.9c.
Headline earnings are expected to be between R808.5m and R899.6m versus R1.139bn, or between R1.207bn and R1.298bn before the Walmart costs.
Basic EPS of 377.1c to 422.1c are expected versus 562.8c previously.
Massmart said the costs associated with the Walmart transaction included the creation of the R100m Supplier Development Fund.
"Greater detail will be provided with release of Massmart's reviewed preliminary financial results for the 52 weeks to 26 June 2011 but many of the costs are not tax deductible and a portion of these are non-cash items," it stated.
Massmart's reviewed preliminary financial results for the 52 weeks to June 26 2011 will be released on August 25 2011.
US retail sales post largest decrease since 2009
16/02/2019 - 20:38
US retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at the end of 2018.
Latest retail sales figures show disappointing trend
15/02/2019 - 10:01
Available economic activity data has shown that the economy ended last year on a weaker footing, with December retail sales figures being the latest to disappoint, declining for the first time in nearly two years.
Co-op to roll-out franchise model
13/02/2019 - 14:40
The Co-op has confirmed that it is looking to develop a network of franchise stores following successful trials of the model.
Why retail will never be the same as tech-savvy customers change the game
01/02/2019 - 09:02
Traditional brick and mortar stores still have a future despite the boom in online retail, says Andrew Jennings, chair of the Prince's Trust Retail Leadership Group in London. But, he says, with techno-savvy customers, it won't mean business as usual.
Alcohol, clothes set to boost online retail sales to R20bn
01/02/2019 - 08:37
Retail sales in South Africa are expected to reach R20 billion in 2020 on the back of a surge in online sales of apparels, alcohol and tobacco products.