Massmart's strategy isn't to turn Game into a "mini Makro", CEO Mitch Slape insists.
Massmart's latest set of results show that Game continues to bleed – with the retailer's sales falling by almost 9% to R7.6 billion in the six months to the end of June compared to the same period in 2020. This means its sales were actually lower than during the hard lockdown.
Massmart blames Game's weak sales on shoppers staying away from regional malls and retail centres due to Covid-19 concerns. It wrote down the value of Game by R570 million.