Massmart CEO could be R55m richer

2014-04-13 15:57

Outgoing Massmart CEO Grant Pattison could pocket about R55m when he decides to cash in all his shares and options.

Nigeria vs SA: Who will investors turn to?

2014-04-10 14:25

What is really important to investors looking to cash in on a big economy? Size matters, but so does development, economists say.

Sliding rand boosts and burdens companies

2014-02-09 13:00

The tumbling rand has been both a blessing and a curse for corporate South Africa, ranging from a windfall for mining houses to saddling manufacturers.

Walmart website glitch gives shoppers bargains

2013-11-07 11:45

Bargain-seekers got some big ones at, as a technical glitch on the Walmart Stores US website offered items at a fraction of their retail price.

Walmart in jobs bonanza

2013-09-23 22:25

Walmart is hiring 55 000 seasonal workers in the US and is elevating 70 000 more to part- or full-time positions as the holiday season ramps up.

Massmart sees tough second half after profit slide

2013-08-22 10:39

Walmart's South African unit Massmart has reported a 9.9% fall in profit as debt-laden consumers at its home market cut down on spending.

Walmart unit boosted by currency impact

2013-08-14 09:59

Massmart, the South African unit of Walmart Stores says its first-half earnings rose by as much as 57%, lifted by favourable exchange rates.

Walmart to pay over environment damage

2013-05-29 12:04

Walmart Stores will pay $81.6m after pleading guilty in the US to criminal charges of improperly disposing of fertiliser, pesticides and other hazardous products.

OR Tambo, Walmart to stock Mandela wines

2013-05-07 16:55

The Mandela family's wine entrepreneurs, who plan to donate some profits to charity, believe their wine venture is part of their heritage, a report states.

Retailers not pulling out of Bangladesh

2013-04-28 11:08

Despite a series of accidents that have killed hundreds of workers in recent months, major retailers and apparel makers continue to operate in Bangladesh.

Exposé shames Apple, Volkswagen

2013-03-15 18:33

Technology giant Apple and car maker Volkswagen have been singled out by a Chinese television show in its annual corporate malpractice exposé.

Walmart hikes dividend as earnings gain

2013-02-21 16:00

Global retailing giant Walmart has announced a higher dividend for 2014 as fourth quarter earnings showed strong growth helped by a lower tax rate.

US fingers Walmart boss in Mexico bribe

2013-01-10 19:21

US lawmakers have released emails that appeared to show Walmart's CEO Mike Duke knew as far back as 2005 of allegations of bribing Mexican officials.

Inquiry into Walmart lobbying tactics

2012-12-12 09:59

The Indian government has announced a probe into giant retailer Walmart following their push into the country's $450bn retail market.

Walmart tills ring despite protests

2012-11-25 15:08

Protesters demanding better wages and healthcare for Walmart workers have converged on the retailer's stores at the start of the crucial holiday shopping season.

Massmart welcomes court ruling

2012-10-09 17:33

Retailer Massmart has welcomed a Competition Appeal Court ruling which provides clarity on its supplier development fund.

Massmart profit misses the mark

2012-08-22 08:16

Massmart, a unit of Walmart, has posted a 6.1% rise in full-year profit, falling well short of expectations as weak selling prices and rising costs weighed.

Walmart is the new gold

2012-08-08 15:38

Retail giant Walmart is seen as a safe haven as investors flock to buy its shares amid slowing global growth and volatile markets, say analysts.

Walmart advent a boon to SA shoppers

2012-07-16 12:41

Walmart's entry into SA continues to shake up the retail sector with Massmart subsidiaries and its biggest rivals under pressure to cut prices, says a report.

Walmart bribery review fingers SA

2012-06-13 09:44

Lawyers for Walmart have flagged Brazil, China, India and SA as well as Mexico as countries representing the highest corruption risk in a global review.

Govt appoints expert for Walmart study

2012-04-11 07:59

Economist and Nobel laureate Joseph Stiglitz has been appointed as the government's expert on the Walmart study.

Massmart/Walmart still in limbo

2012-03-11 16:39

The merger conditions for Massmart and Walmart could cost the retail groups more than they currently anticipate.

Walmart raises dividend

2012-03-01 16:34

Walmart, the world's largest retailer, has upped its dividend by almost 9% on the back of a rebound in its US stores.

Massmart ups profit on forex

2012-02-22 09:52

Retailer Massmart has reported a 19% rise in first-half profit, helped almost entirely by favourable currency swings as higher costs and discounts weighed.

US keeps close eye on Walmart appeal

2012-02-17 09:34

The US Chamber of Commerce says the outcome of Walmart's bid to buy a controlling share of Massmart could affect whether other US firms do business in Africa.


Nigeria vs SA

2014-04-10 19:24

Who will investors turn to? Size matters, but so does development, economists say.

Would you eat genetically modified salmon?

2014-04-03 11:20

The US has stalled for more than four years on deciding whether to approve a fast-growing salmon that would be the first genetically modified animal approved for human consumption.

Walmart warns of flat festive sales

2013-11-14 17:51

Walmart has reported a 2.8% year-on-year rise in third-quarter net profit, but warned that sales during the holiday shopping season are expected to be relatively flat.

Shoprite takes on Walmart

2013-10-16 09:28

Shoprite is using exclusivity clauses to challenge the legality of a Walmart-owned Massmart Game store in the CapeGate centre, according to a report.

Wal-Mart's SA unit lags rival in expansion

2013-08-22 18:00

Massmart is losing ground expanding into fast-rising sub-Saharan economies following news that Shoprite plans to open 47 stores outside SA.

Massmart seeks stake in Kenya's Naivas

2013-08-14 10:41

Massmart has been in talks to take a majority stake in Kenyan supermarket chain Naivas, as the company seeks a foothold in east Africa's biggest economy.

Top brands face protests over Bangladesh

2013-05-13 14:24

The deaths of garment workers in Bangladesh are sparking calls to protest top Western brands, but firms can bring about labour reforms, an expert says.

Walmart tops Fortune 500 list

2013-05-07 07:56

The 500 largest US companies scored near-record profits last year and retailer Walmart replaced ExxonMobil as the biggest revenue maker on the annual list.

Massmart profit down as spending slows

2013-02-28 08:34

Massmart, the SA unit of Walmart, has reported a 21% drop in first-half profit hit by costs related to its deal with the world's biggest retailer.

Walmart tightens global supplier rules

2013-01-23 08:49

Walmart has alerted its global suppliers that it will immediately drop them if they subcontract their work to unauthorised factories.

Bangladesh factory warned twice on safety

2012-12-13 12:03

The Bangladeshi factory producing clothes for Wal-Mart Stores before a fire that killed 112 workers had been operating without a safety license and had been warned twice, says an official.

Bangladesh fire: Wal-Mart distances itself

2012-11-27 08:08

The garment factory in Bangladesh where a weekend fire killed at least 112 people had been making clothes for Wal-Mart without the giant US retailer's knowledge, Wal-Mart says.

Massmart sees margin pressure

2012-11-21 19:10

Massmart expects no growth in margins until the end of 2013 as it forges ahead with an aggressive cut-price strategy to double market share in food sales.

Walmart tests scanning iPhone app

2012-09-07 08:39

Walmart is testing a system that would allow shoppers to scan items using their iPhones and then pay at a self-checkout counter.

Walmart shares drop on Mexico scandal

2012-08-16 19:10

Shares in Walmart, the world's largest retailer, are under pressure as the US Congress pressed on with an investigation of alleged bribery in Mexico.

Vavi attacks Walmart deal

2012-07-18 17:51

Approving the contentious Walmart-Massmart merger was a serious error by the Competition Commission, says Cosatu general secretary Zwelinzima Vavi.

Retail sector 'needs BEE charter'

2012-07-12 11:11

Despite black economic empowerment programmes by retail giants such as Pick n Pay, Massmart and Clicks, experts say the sector is not fully compliant.

Government loses Walmart appeal bid

2012-03-09 10:39

Three ministers who challenged competition approval for Walmart's R16.5bn takeover of Massmart have had their appeal dismissed by the Competition Appeal Court.

Crucial Walmart verdict out soon

2012-02-29 10:32

The Competition Appeal Court will release its judgment on the review of the Walmart-Massmart merger next Friday.

Shoprite sees scope for 700 stores in Nigeria

2012-02-22 07:00

Shoprite CEO Whitey Basson says Nigeria has the potential to become as big a market for the retail giant as its SA home base.

Woolworths not losing sleep over Walmart

2011-12-09 14:44

Woolworths CEO Ian Moir says he is more concerned about Zara's entry into the African market than that of Walmart.

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