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.
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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.
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.