for subscribers

Will Mitchell Slape's plan reverse Game and Makro owner's R1.2 billion loss?

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
A Game store on January 13, 2020 in Johannesburg. South Africa.
A Game store on January 13, 2020 in Johannesburg. South Africa.
Gallo Images/Papi Morake

Massmart recorded its biggest half-year loss on Thursday since it was acquired by US retail giant Walmart.

In fact, the R1.2 billion loss for the first half of 2020 trumped even the biggest full year loss of R1 billion the retail giant reported in 2019.

But CEO Mitchell Slape is hopeful this is the end of Massmart's declines, given the cost savings the company expects and its focus on growing its profit margin.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.54
(-0.22)
ZAR/GBP
21.42
(-0.18)
ZAR/EUR
19.48
(-0.25)
ZAR/AUD
11.66
(-0.07)
ZAR/JPY
0.16
(-0.11)
Gold
1900.66
(-0.10)
Silver
24.47
(+4.66)
Platinum
856.00
(+0.29)
Brent Crude
42.85
(-0.67)
Palladium
2335.01
(+0.71)
All Share
55161.03
(+0.21)
Top 40
50741.94
(+0.09)
Financial 15
9977.80
(+3.10)
Industrial 25
74762.95
(-0.61)
Resource 10
54129.95
(-0.07)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1501 votes
It depends on how the funds are used.
73% - 9705 votes
No. We should have gotten the loan elsewhere.
16% - 2155 votes
Vote