Retailers on the ropes as impact of July riots manifests
The economic impact of the July riots is predicted to be around R50bn, however, the long-term consequences will likely be far greater.
The economic impact of the July riots is predicted to be around R50bn, however, the long-term consequences will likely be far greater.
The argument for rotating from Growth into Value stocks has been forwarded many times in the past decade. The time to switch may have finally arrived.Â
Massmart announced its intentions to enter the e-commerce industry with the purchase of online fast moving consumer goods retailer OneCart.
New CDC guidelines around mask wearing and social distancing for inoculated individuals has caused problems for plans to repopulate city centres.
For the 52-week period, Massmart’s total sales amounted to R86.5bn, representing a decrease of 7.7% over the same period last year.
Massmart started consulting with unions about store closures and jobs cuts, as the SA unit of Walmart battles to recover from an earnings slump.
Massmart fell the most in three months as the troubled South African retail chain warned on profit and majority shareholder Walmart sent one its own to help stem declines.
Massmart’s lower dividend payout is yet another international headache for majority owner Walmart.
Walmart, the world’s largest retailer, wants to become a big seller of advertisements too, as Amazon expands its share of the online advertising market.
On Twitter last night, anti-establishment politician Bernie Sanders announced his candidacy to become American President in 2020.