Massmart has ambitious plans to become a leading player in e-commerce in South Africa. The company’s Sylvester John unpacks it all in this episode of TC|Daily.
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Walmart looks set to buy out minority shareholders in Makro parent, JSE-listed Massmart, as the US retail giant doubles down on its South African operations.
Massmart reported a 50% year-on-year jump in e-commerce sales for the period to 26 June, even as its income statement was once again stained in red ink.
Makro has launched its first “native” app, allowing consumers to shop using an app rather than the company’s website.
While a string of local tech start-ups were snapped up in 2021, many were acquired for significantly less than the blockbuster exits of years gone by.
Massmart’s troubled general merchandise retail chain Game has relaunched its website, with a focus on e-commerce, as part of a turnaround strategy.
Massmart has reported full-year results stained in red ink thanks in part to the impairment an SAP ERP system at troubled retailer Game.
Massmart on Tuesday warned of a bigger annual loss, due to store damages and lost trading income suffered as a result of the July looting.
Thousands of striking workers at companies under Massmart will return to work after reaching an agreement over disputes.
Thousands of workers, disgruntled over low wages and changes to terms and conditions of employment, went on strike on Friday.