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.
Workers will start an indefinite strike on Friday at all group companies owned by Walmart-led Massmart Holdings in South Africa.
With an explosion in online sales expected in South Africa in the coming decade, e-commerce is becoming core to the growth strategy of Walmart-owned Massmart.
The investing world is enthralled by a determined Beijing as it cuts China’s private sector down to size by relentless regulatory action. India’s more subtle manoeuvres in the same direction are going largely unnoticed.
A trading update for the first half of the year from Massmart on Friday spooked investors who had been banking on a stronger recovery. Game is at the centre of the problems.
From Hollywood to health care, Amazon.com seems to be growing tentacles at an accelerating rate.