Massmart flags revenue decline and pressure on SA’s consumers
Shares of retailer Massmart, the owner of Game, Builders Warehouse and Makro fell as much as 13% on Thursday morning, after it warned of weaker sales and growing supply-chain costs.
In an update before its AGM on Thursday, the group reported a decline in sales, saying it was battling the fallout of July 2021’s civil unrest and signs that economic conditions were eroding customers’ disposable income...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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