Massmart warns of huge losses as it mulls sale of Masscash
The company’s net half-year loss widened as much as 44% despite closing all 23 DionWired tech stores
The company’s net half-year loss widened as much as 44% despite closing all 23 DionWired tech stores
By Frontier Africa Reports
•
August 21, 2020 at 11:49 AM GMT+1
Retail group Massmart, owner of Makro and Game, has warned that its half-year loss will increase to as much as R1.2bn as the Covid-19 pandemic hit sales.
The company’s net loss widened as much as 44% from a first-half loss of R836.1m in 2019, with the company saying the coronavirus has added to its woes.