Massmart said on Thursday its first-half headline loss widened to R1.1-billion, as sales at its stores fell due to Covid-19 restrictions. E-commerce, on the other hand, blossomed through the lockdown.
Massmart-owned electronics retailer DionWired is gone. The troubled Walmart-owned retail group said on Thursday that all DionWired stores will cease trading at 6pm on 19 March.
Although yet to recover from Edcon’s woes and downsizing, South Africa’s shopping centre landlords are set to face even more intense rental negotiations with other major retailers.
Less than a month into 2020, South African companies have already announced thousands of job cuts. In a country where a third of the labour force is already unemployed, this will put even more strain on economic growth.
Massmart plans to close the 23-store DionWired chain of hi-tech appliance shops as well as 11 Masscash wholesale outlets, a spokesman said by phone on Monday.
Retail group Massmart Group, whose assets include Makro, Game and DionWired, warned on Monday that it’s likely to close a range of stores affecting the jobs of nearly 1 500 employees.
Massmart will have to take a long, hard look at its embattled Massdiscounters division to turn the group’s fortunes around, and this should include a rationalisation of its Game and DionWired stores.
A new challenger to pay-TV operator MultiChoice, which owns DStv, is expected to launch commercial services soon, possibly by as early as April. Unlike DStv rival TopTV, however, NuWeb Television doesn’t intend using direct-to-home satellite technology. Rather, it will deliver its offering over