Advertise with



Massmart is a South African-based globally competitive regional management group, invested in a portfolio of differentiated, complementary, focused wholesale and retail formats. These are each reliant on high volumes and operational excellence as the foundation of price leadership, in the distribution of mainly branded consumer goods for cash. Massmart is the second-largest distributor of consumer goods in Africa, the leading retailer of general merchandise, liquor and home improvement equipment and supplies, and the leading wholesaler of basic foods.

The Group comprises nine wholesale and retail chains, and one buying group – 412 stores and 517 buying group members all focused on high-volume and low-cost distribution. We operate in 13 countries in sub-Saharan Africa through the Group’s four operating divisions – Massdiscounters, Masswarehouse, Massbuild and Masscash. We are listed on the main board of the JSE Securities Exchange in the Consumer Services-Retail sector.


The sole objective of Massmart’s strategic thought and action is the achievement of competitive advantage through the continual improvement of a high-volume, low-expense business model that enables the provision of exceptionally low prices on an extensive range of products to our customer base (a broad spectrum of society in 14 sub-Saharan countries).

The Strategy and Investment Committee of the Board enhances the quality of decisions regarding strategy – facilitating a robust analysis and evaluation of options by the Board and executive management. An annual three-year strategic review ensures that there is continuity and coherence in this strategic thinking.



Massmart’s 2017 financial year was a 53-week trading period which complicates meaningful comparisons with the prior year’s 52-week period. Apart from the paragraph immediately below, my commentary focuses on Massmart’s performance for the current and prior 52-week periods.

For the 53 weeks to 31 December 2017 Massmart’s total sales increased to R93.7 billion, representing a 2.7% growth compared to the 52 weeks to 25 December 2016. Group operating profit, excluding foreign exchange movements and interest, increased by 4.8% to R2.8 billion while headline earnings increased by 14.0% to R1.5 billion.

Total sales for the 2017 52-week period of R92.1 billion represents growth of 1.0%, with comparable store sales declining by 0.8%. Product inflation was 2.0%. These figures mask an improved sales performance in the second half of 2017 which saw three of our four Divisions record higher comparable sales growths than those for the six months to June 2017, and where product inflation fell from 3.2% to 2.0% in the second half of the year. Adjusting for product inflation shows that all Divisions reported higher real comparable sales in the second half. New stores opened in 2017 contributed 0.5% to total sales growth.

Total sales from our South African stores for the 52-week period grew by 1.5%, while comparable sales declined by 0.2%. Total sales from our ex-SA (i.e. our stores across sub-Saharan Africa) stores for the 52-week period grew by 3.5%, with comparable store sales growth of 0.8% (both measured in constant currencies^). The total ex-SA Rand sales decline was 4.8%, which was an improvement on the equivalent first-half figure of an 11.9% decline. This improvement came from stronger sales performances in most stores in those countries and was partially aided by currency movements.

Our expense management remained effective with total expense growth of only 1.2% for the 52-week period while comparable expenses were 1.3% lower than 2016. This incredible performance was however insufficient to neutralise the pressure from soft sales (particularly in Durable goods) and lower gross margins, consequently, Group trading profit excluding foreign exchange movements and interest declined by 5.4% to R2.5 billion. Headline earnings increased by 1.6% to R1.3 billion, benefiting partially from lower foreign exchange losses in 2017.

Much has been said about the difficult South African and sub-Saharan African economic environments in 2017. The structural challenges within the South African economy continued to weigh on consumer confidence and spending, although some of the cyclical factors (lower product deflation in Durables and lower Food inflation) contributed positively. Recent sales trends in the South African retail sector are difficult to interpret with, for example, national sales growths as reported by StatsSA being higher than those reported by most JSE-listed retailers. The divergent sales performances across our major product categories reflect the economic pressures on the consumer in South Africa, with total Food & Liquor sales growing at 2.4% for the period while General Merchandise sales declined by 2.5% (albeit with greater product deflation too) and Home Improvement sales grew by 2.4%.

During the 2017 year, 11 stores were opened, representing new space growth of 2.8% and which contributed 0.5% to total sales growth. Our portfolio of 423 stores includes 42 stores outside South Africa producing 8.3% of the Group’s sales.

Our response

Later in this letter, I describe the three strategic priorities we are pursuing – improving and growing the core business; sub-Saharan African expansion through opening Builders Warehouse, Game and Masscash stores; and expanding, improving and refining our online/ecommerce offerings in Game, DionWired, Makro, and Builders Warehouse. In the shorter term, however, we are emphasising:

Sustainably lowering our operating costs as a percentage of sales. This is achieved in multiple ways and key focus areas include supply chain and logistics’ efficiencies, reducing store construction and in-store operating costs, effective labour-scheduling of our store employees, and negotiating favourable lease renewals;
Maintaining a competitive price-gap against our major competitors across Known Value Items (KVIs). This price-gap is enabled by Massmart’s operating costs (as a percentage of sales) being the lowest in South African retail;
Working closely with key suppliers to ensure that we invest energy and resources into areas of common interest, including supply chain efficiency, to ensure their products reach their desired target markets cost-effectively; and
Being selective about our South African store footprint: only opening stores that we are confident will be sustainably profitable and closing those with permanently compromised profitability.

Operational highlights

We continued to increase market shares in many Durables product categories, including major appliances, audio-visual, information technology and gaming
A number of our Food and Grocery categories grew ahead of the market, including convenience meals, cereals and carbonated drinks
Superb growth of Online sales, 47% growth over the prior year
Recorded another bumper Black Friday with over R1 billion in sales
Private Label sales represent 8.8% of Group sales
New stores opened, including three outside South Africa, increasing Group trading space by 2.8%
Effective inventory management saw stock days of 54 at December 2017

Divisional operational review


Massdiscounters comprises the 142-store Food and General Merchandise discounter Game, which trades in South Africa and 11 other African countries; and the 24-store Hi-tech retailer DionWired in South Africa.

By mid-2017 the new GK-POS point-of-sale roll-out was completed successfully across all but three Game and DionWired stores. The more significant SAP ERP system implementation remains on schedule for early 2019. In November 2017, Game launched its online shopping platform using SAP Hybris with a positive response from customers. DionWired will move from its legacy online system to SAP Hybris in March 2018.

Our Fresh roll-out continues with 72 Game stores in South Africa and 17 in other African countries now offering this category, resulting in Food & Liquor sales participation of 23%.

During the year one Game store was opened in Ghana, increasing trading space by 0.6% to 548,544m². We expect to open 16 Game stores over the next two years, including 12 across four ex-SA countries, and one DionWired store in South Africa.


Masswarehouse comprises the 21-store Makro warehouse club trading in Food, General Merchandise and Liquor in South Africa; and Massfresh, which houses the Group’s fresh produce, fresh meat and bakery operations including The Fruitspot.
One new Makro store was opened in Riversands, north of Johannesburg, increasing trading space by 6.0% to 231,021m2. This store includes new merchandise layouts which have attracted great responses from customers. Once the surrounding national road infrastructure is completed, this will develop into another successful Makro store. Over the next two years, we expect to open one Makro store in South Africa.

Online sales grew by 37% and represented 4.0% of Makro’s Durables sales in November and December 2017. The online product range is expanding and now also offers a marketplace solution. In May 2017, we successfully launched the Makro digitised rewards programme mCard.


Massbuild comprises 102 stores, trading in DIY, Home Improvement and Building Materials, under the Builders Warehouse, Builders Express, Builders Trade Depot and Builders Superstore brands in South Africa; and six Builders Warehouse stores across Botswana, Mozambique and Zambia.

The product range on the Builders Warehouse online platform launched in March 2017 is being expanded continually. The customer response, particularly from high basket value commercial customers, is very positive and Online sales are accelerating.

Three Builders Superstores were opened in South Africa and one Builders Warehouse store was opened in Zambia, our second in that country. Net trading space increased by 1.6% to 456,313m². There will be six new Builders Warehouse stores opened in Kenya, Mozambique, Swaziland and Zambia over the next two years, and nine stores in South Africa, most of these being the smaller format Builders Superstore.


Masscash comprises 54 Wholesale Cash & Carry stores, and 61 Retail stores trading in South Africa; 13 Cash & Carry stores in Botswana, Lesotho, Mozambique, Namibia, Swaziland and Zambia; and Shield, a voluntary buying association.

In September 2017 the Retail and Wholesale executive teams were combined into a single smaller executive team under the leadership of Kevin Vyvyan-Day. The respective management skills of the two business teams complemented one another and so the new combined executive is balanced and stronger.

For several years effective and fair competition by formal players in the South African FMCG industry, particularly within the lower-margin wholesale channel, has been compromised by declining standards of policing and enforcement by the South African Revenue Services (SARS) and other law enforcement agencies. Amongst other consequences, this has allowed a rapid and pervasive penetration of illicit and grey product, VAT and tax round-tripping and declining VAT compliance. This situation has compromised our competitive positioning in Masscash and Makro. We therefore strongly welcome and support the South African Government’s intention to address the effectiveness of SARS.

Four Retail stores were opened in South Africa and one Wholesale store was opened in Zambia. Net trading space increased by 5.8% to 377,038m². Over the next two years we will be opening 17 new Rhino and Cambridge stores in South Africa, three Wholesale stores in Mozambique and Zambia and one Wholesale store in South Africa.

Strategic priorities

Improve and grow the core South African business

There are two broad dimensions to this objective – one, to improve the profitability of, and to continually seek new growth avenues for, each of the Divisions; and two, to ensure that we collaborate across the Divisions, i.e. intra-Group to reduce cost duplication and inefficiency. Our collaboration efforts are overseen by our Group Commercial Executive, Llewellyn Steeneveldt, and involve core functional areas across each Division – like Real Estate, Merchandise and Private Label – working together. Collaboration takes many forms: negotiating with a single supplier across the Group for best price and service; aligning around a single instance of the product master-data, or expanding the skills and experience of our Private Label team.

Since late 2016 the Group Supply Chain Executive, Richard Inskip, has been mandated to improve the Group’s transport, logistics and supply chain capabilities over the long term. In 2017 our supply chain community performed exceptionally and delivered an improved financial performance. Further, we continue to optimise our regional distribution centres and have increased the volume of product moved through the supply chain network to reduce costs and stock holding.

In late 2017 we asked Richard to also take on the newly created Group Chief Information Officer (CIO) role. His skills and experience position him well to ensure that the Group’s IT efforts are coordinated usefully and optimised for better operating cost and business performances. Furthermore, much of the Group’s supply chain work is underpinned by IT systems.

Grow into sub-Saharan Africa

We believe that over the long term several sub-Saharan African countries will record strong real economic growth (i.e. above 5% per annum). This growth will be accompanied by a burgeoning middle-class and increased participation and penetration of modern retail – both of these trends will support strong retail sales growth over the longer term.

At R181 million, our average sales per ex-SA store is more than four times higher than those for many other South African competitors. This allows us to build relatively fewer stores but still attract large markets shares and, importantly, also allows us to keep operating costs as a percentage of sales low in those stores, which enables us to be very price competitive. In the next three years, we anticipate increasing net trading space by 76,823m2 representing ex-SA space growth of about 35%. Ex-SA sales currently represent 19% of Massdiscounters total sales, 7% of Massbuild and 9% of Masscash Wholesale respectively.

Grow online/omnichannel

We recognise the growing presence of online shopping and digital activation in our customers’ lives and the effect it has on their shopping behaviours and needs. Similarly, we are clear that international trends see that customers’ purchases of General Merchandise are increasingly migrating to online platforms. South African online sales represent only 1.5% to 2.0% of sales and we see similar participation rates in those categories we sell online. This participation will definitely grow with the Group’s aggregate online sales growing by 47% for 2017. This was achieved through our four e-commerce points of presence; Makro, Game, DionWired and Builders Warehouse which are all currently using or migrating to the SAP Hybris platform. In November 2017 Game launched its online shopping platform, using SAP Hybris, with a positive response from customers, while Makro’s Online sales grew by 37%. In Builders Warehouse the customer response, particularly from high-basket value commercial customers, is very positive and Online sales are accelerating.

Linked to ecommerce and digital is the provision of a broad array of financial services to our retail customers. Gerhard Hayes, Group Financial Services Executive, has been tasked with the expansion and improvement of our offering including the roll-out of kiosks across our store network providing financial services such as money transfers, gift cards, airtime, prepaid electricity, Lotto tickets and airtime purchases.

The Board and Executive Committee

My Board and Executive Committee colleagues remain a source of great counsel and support. At Board level, we have access to skills and experience across diverse areas including international retail, corporate governance and risk, public policy and transformation and real estate. This counsel, of course, extends beyond me to our Executive Committee colleagues and senior management. I thank and acknowledge the support the business and I have received from my Board colleagues, and I recognise the quality of the leadership, strategic debate and operational execution that comes from my Executive Committee colleagues.

Our people and transformation

The contribution of our 48,000 colleagues across sub-Saharan Africa is always noticed and appreciated, especially in the current environment where many of their own families feel the adverse consequences of the weak economy.

We, therefore, acknowledge and thank our colleagues in all our stores, offices, DCs, and call-centres for their service and support, knowing that the Group’s steadily improving trading and financial performance comes from their efforts.

For a business to be sustainable it must reflect, and be responsive to, the needs, nature and direction of the society within which it operates. We believe that diversity and transformation make a business stronger, more resilient and more responsive. As a major South African corporate, we continue to focus on the transformation of our senior and executive management.

Listeria outbreak

Massmart places exceptional emphasis on the safe distribution of food products to our customers. As part of this, we have a dedicated food safety compliance team and follow stringent food safety compliance processes that are regularly audited by an independent external third party. At the onset of the recent listeria outbreak in South Africa, we specifically increased the scope and intensity of our testing protocols, liaised with the Department of Health, and participated in the industry-wide information sharing initiatives coordinated by the Consumer Goods Council of South Africa (CGCSA). At the time of writing these enhanced safety measures were still in place.

Business restructures
In mid-March 2018 Massdiscounters and Masscash separately made internal announcements signalling their intent to initiate restructures of some of their business functions. This has been done in accordance with requirements of the Labour Relations Act (LRA) and each has initiated a formal facilitated consultation process with their employees on their proposed restructuring in accordance with section 189 of the LRA.

The estimated costs associated with the potential retrenchments arising from the proposed restructuring for the two Divisions amount to R66 million which will be provided for in the Group’s results for the first half of 2018. If we do proceed with these restructuring programmes, savings are projected to absorb only about one-third of the estimated restructuring costs in the second half of 2018. Full annualised savings will be realised in 2019. A further R25 million may be incurred to align the offices and teams of the Masscash Division, of which R6 million may be spent in the first half of 2018.

In addition, the Massdiscounters Division is considering relocating part of its offices from Durban to Johannesburg in the second half of 2018 which is subject to a separate section 189 facilitated consultation process which Massdiscounters has initiated with the affected employees.

The estimated costs associated with the proposed office relocation covering: refurbishment of existing offices in Durban; moving part of the teams to Johannesburg; and fitting out new offices in Johannesburg, amount to R50 million, and will, if the decision to relocate is taken, be incurred during the second half of 2018 and be once-off in nature. Material qualitative benefits are expected from this move over time through increased Group collaboration, leveraging scale and expertise, integration and transformation, talent retention and attraction, as well as administrative efficiency improvements.


The Group’s sales performance for the first 12 weeks of 2018 has been soft which is a trend noted by other participants in South African retail. Total sales growth is slightly positive while comparable sales growth is slightly negative, with product deflation of -0.4%. Sales growths in Rands from our stores outside South Africa are at similar levels as these Group figures. Food sales growth remains low due to ongoing deflation in commodities, which should move into inflation from April/May 2018. As noted in the CFO letter, this year Massmart is adopting IFRS 15 which will impact our reported sales for this 2018 financial year and beyond. The growth trends referred to above are however reported on the same basis as last year.

Notwithstanding the soft start to 2018, we are hopeful that the 2018 sales environment will improve as various positive factors (the stronger Rand, low inflation and lower interest rates) lift consumer sentiment and spending.

Whilst South Africa’s new political leadership and direction will, in the short to medium term, undoubtedly improve many economic factors, the structural, policy and public sector impediments remain long-term challenges. This is undoubtedly South Africa’s best shot in recent memory at reinvigorating our own social, economic and political progress and prowess and restoring our place as a key actor on the African continent. We are an excited and proud South African company.


Our appreciation and gratitude is due to all our stakeholders for their support for, and contribution and commitment to, Massmart during this period.
Read more


As Massmart, we recognise that our ongoing success is linked to the value we are able to create for all our stakeholders in times of prosperity and in times of challenge. While 2017 was an incredibly tough year economically, I am pleased to report that, thanks to our strong leadership team and business model, we weathered the storm and continued to deliver benefits to our shareholders, customers, employees and suppliers, and to the societies in which we operate.

A challenging operating environment

I am satisfied, given the difficult trading environment, with our results for 2017, which saw sales increase to R92.1 billion for the 52-week period and to R93.7 billion for the 53-week period. But perhaps more notable was that management again demonstrated a remarkable ability to control costs, resulting in comparable costs decreasing by 1.3% year-on-year.

South Africa, which accounts for 91.7% of the Group’s total sales, had a very difficult 2017. Political uncertainty and economic volatility had a negative effect on both consumer and business confidence. This, in turn, had a negative impact on discretionary spend, which affected our sales.

In December 2017, a change in leadership of the governing party, the African National Congress, and subsequently of the country, has unleashed a sense of optimism in South Africa that is in stark contrast to the uncertainty and pessimism that characterised the 2017 financial year.

We welcome the appointment of the new economic cluster ministers and as Massmart, we stand ready to work with the Government of President Cyril Ramaphosa, South Africa’s fourth democratically elected President, in championing inclusive economic growth and job creation in South Africa. The country now needs to show bold and decisive leadership to urgently resolve challenges facing our state-owned enterprises and to work to not only avoid a further ratings downgrade but also towards regaining an investment grade rating for the country.

We are watching with keen interest the green shoots that are emerging in the South African economy, which will enable us, with the structure, business and cost base that we have, to ride the wave of better prospects going forward.

I am encouraged by the results achieved by our African businesses (ex-SA). Expressed in constant currencies, sales growth from our ex-SA markets was 3.5%. However, as a result of currency weaknesses, comparable sales growth in Rands was 0.8%.

Looking forward, we are optimistic about Africa’s growth as a result of an upturn in commodity prices and positive winds of change politically. The clear message coming through from new heads of state in key African economies is that they are open for business.

A clear commitment to our strategy

We remain committed to our strategy and this, I believe, is what contributed to our positive results in 2017.

We are pleased with the growth of our Food & Liquor business in South Africa (up 2.4%). It is an important part of our growth strategy and we have been growing our market share consistently over the last few years. While Durable sales were soft, we managed to grow market share in this important area of our businesses, which augurs well for our growth prospects going forward.

On the ecommerce front, we are leading the charge amongst the big retailers in South Africa and the growth in our online sales is a vindication of this (up 47% in 2017). This is an important part of our growth strategy going forward, and we continue to invest in this aspect of our business to ensure our competitive advantage. We need to continue to innovate in order to improve the customer’s experience.

We will continue to focus on growing beyond South Africa. We believe we have a good growth platform in terms of the businesses that we have, and the stores that were opened in Africa in 2017. We plan to open at least 20 new stores between 2018 and 2020, growing our ex-SA space by more than 35%.

Shared value, a pre-requisite for sustainability

The concept of shared value is at the very core of our business as it directly correlates to our long-term sustainability. We choose to be a powerful force for good across our value chain and aim to have a positive and lasting impact on the communities in which we operate, and on the environment.

It makes me immensely proud when I see Massmart spring into action to provide support to communities in times of crisis. In early 2017, when a huge fire destroyed the homes of 10,000 people in the informal settlement of Imizamo Yethu, we partnered with the Gift of the Givers to provide effective disaster relief to those who lost their homes. Similarly, when devastating fires destroyed large sections of Knysna and the surrounding areas, resulting in thousands of people being displaced, our teams at Makro and Game sent six truckloads of supplies to the affected communities within 48 hours.

With drought affecting many parts of South Africa, it has driven home the need for all South Africans, and especially businesses, to be more water conscious. As a Group, we are focusing our efforts on implementing water saving measures. We have also reviewed every aspect of our operations in the Western Cape with a view to improving water efficiency and water savings on an ongoing basis.

Reducing our carbon footprint also remains a priority. To this end, every new Makro store we build is greener than the last one. Take for example our new Makro Riversands store, this is our greenest store yet and builds on the success of our Makro Carnival store.

Through our operations, we are determined to create opportunities for everyone to prosper. We achieve this by partnering with local suppliers, training our staff and by employing local talent.

We are heartened by the work that our Supplier Development Programme (SDP) has done in developing over thirty small or medium-sized enterprises (SMEs). Not only are these businesses vital to our supply chain, they have also helped substitute imports and are driving economic prosperity for their stakeholders. Worth noting is that one of our SME suppliers now exports to Walmart Chile. Their success has ignited our passion to help more SMEs gain access to Walmart’s supply chain and we have since presented a variety of merchandise manufactured by SDP participants to the Walmart merchandise community.

We are proactively addressing the skills shortage that South Africa as a country currently faces through our commitment to skills development and training. Our comprehensive approach addresses the skills needed at all levels of our business. Our learnership programme has helped prepare over 1,000 unemployed young people for work, by offering them training and work experience. Through Massmart Corporate University we train upcoming graduates, helping prepare them for roles across the Group. Further, our curated courses provide career growth opportunities for many of our employees. Our talent development initiative sees us partner with leading business schools such as the Gordon Institute of Business (GIBS) and ensures talented individuals can further their career prospect in the Group.

A focus on good corporate governance

Massmart has a relentless focus on good governance and we have put in place enhanced corporate governance structures to ensure this.

Our Board is actively engaged and committed to sound principles of good governance. Our Board diversity is one of Massmart’s strengths. The diversity of our Board in terms of race, gender, business experience and length of service ensures that it is well positioned to add value. During the year the Board adopted a race and gender diversity policy to guide its future appointment of Directors, with an aim to enhance our transformation efforts further.

During the year, we further refined our governance structures in line with the principles of the King IV Report on Corporate Governance for South Africa, 2016 (King IV). I am pleased to report that, for the year ended December 2017, the Board is satisfied that it has fulfilled its responsibilities in accordance with its charter, King IV and other applicable regulatory and legislative requirements. We regard our systematic focus on King IV as being essential to the sustainability of our business.

Our Board

I would like to take this opportunity to thank our Board for their strategic oversight and their support of the Executive team in the execution of the Group’s strategy.

During the period we had some changes to the Board.

In May, we welcomed Ms Susan Muigai and Mr Roger Burnley to the Board, following the resignations of Walmart-appointees Mr JP Suarez and Mr Andy Clarke from the Board. In July, Mr Chris Seabrooke announced his retirement as a non-Executive Director, Deputy Chairman of the Board, Chairman of the Remuneration Committee and a member of the Nominations Committee (with effect from 31 December 2017); however following Mr Moses Kgosana’s resignation as a non-Executive Director and Chairman of the Audit and Risk Committees, Chris agreed to remain on as a non-Executive Director and Chairman and member of the aforementioned Committees, also assuming the role of Chairman of the Audit and Risk Committees. We thank him for agreeing to remain on during this time. We are pleased to report that Ms Phumzile Langeni, who is currently Chairman of the Social and Ethics Committee, was appointed as a member of each of the Remuneration and Nominations Committees in November 2017.

Thanks to all our stakeholders

On behalf of the Board, I would like to thank Mr Guy Hayward, our CEO, and his world-class team who did a commendable job, characterised by exceptional expense control, in navigating a very challenging economic environment. Their commitment to high performance and innovation continues to deliver solid results.

I would also like to thank our 48,000 associates/employees across Massmart who, every day, wake up with the mission of helping our customers save money so they can live better. We are also deeply grateful to all our suppliers for their partnership, and of course to our customers who continue to support our business.
Read more


Our banners / stores

Builders Express

Builders Express

43 Stores
Builders Superstore

Builders Superstore

11 Stores
Builders Trade Depot

Builders Trade Depot

20 Stores
Builders Warehouse

Builders Warehouse

39 Stores


General Supermarkets
30 Stores


75 Stores


Appliances & Electronics
22 Stores


Large Format Hypers, Appliances & Electronics
121 Stores


6 Stores


Liquor, Large Format Hypers
19 Stores

Related News

Massmart profit severely hit by weak sales, losses
01/08/2019 - 09:16
Massmart Holdings' share price declined by more than 17percent on the JSE after the group said it expected to report a decline in earnings across all of its four divisions for the six months to end June, mainly impacted by losses in Massdiscounters.

Walmart must hire someone who can stop the bleeding at its online business
15/07/2019 - 09:55
Walmart has a hole to fill at its online unit, and whoever assumes the role faces a big challenge ahead.

Walmart aims to list minority stake in Japan unit Seiyu
01/07/2019 - 14:29
Walmart said it aims to list its Japanese supermarket unit Seiyu while keeping a majority stake in the business, amid on-and-off speculation the US retail giant was looking to exit Japan where it has struggled to grow.

Walmart worries that US tariffs will raise Mexican fresh produce prices
10/06/2019 - 14:40
Walmart CEO Doug McMillon says the retailer is concerned that fresh produce prices would rise if tariffs are placed on imports from Mexico.

Massmart wins grocery store battle
31/05/2019 - 09:22
Massmart, which owns the Game and Makro chains and other smaller retailers, received a major boost after the Competition Commission said Spar, Pick n Pay, Shoprite and Woolworths should be barred from entering into long-term exclusive lease agreements.

Walmart sends veteran to fix struggling South Africa business
27/05/2019 - 11:12
Massmart Holdings fell the most in three months as the troubled SA retail chain warned on profit and majority shareholder Walmart sent one its own to help stem declines.

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.

Walmart reveals plans for a new corporate campus
20/05/2019 - 17:04
Corporate America has been under political pressure to ramp up investments at home.

Massmart waiting for new blood
10/05/2019 - 09:59
With the share price almost 50% below its 12-month peak, there was little surprise from the market at the departure of Massmart CEO Guy Hayward. It comes a week after the news that CFO Johannes van Lierop was stepping down.

Massmart appoints new finance chief
30/04/2019 - 12:54
Walmart-owned Massmart, the retailer whose brands include Makro and Game, says Mohammed Abdool-Samad will take over as its chief financial officer from August 1.