The Wal-Mart-owned retailer Massmart has missed profit estimates as a result of disappointing performance from Game.
Food retailers are trading at the cheapest premium to the nation’s benchmark stocks index as economic factors curb their profit growth.
SA food and goods wholesaler Massmart says sales growth has decreased during the first half of the year amid a downturn in consumer spending.
The company has not proved to be the hungry giant the competition had feared and it will take more time to feel Walmart’s muscle.
According to reports, a US union paid legal fees for a local union to fight US retail giant Walmart’s acquisition of local retailer Massmart.
The government has roundly welcomed the ruling on the Walmart/Massmart merger and appears unlikely, at present, to take the matter to court.
The Competition Appeal Court has dismissed the state’s appeal against the Walmart-Massmart merger, but acknowledged legitimate concerns over the deal.
Namibia’s trade and industry minister is giving Walmart’s Massmart takeover the nod, provided it does not cut job within the first two years.
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/ 21 February 2012
Africa’s largest food retailer has reported a healthy rise in first-half profits, which they have partly attributed to higher prices and better wages.
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/ 16 February 2012
Whether Walmart succeeds in buying a controlling share of a major SA chain could affect whether other Americans come to do business on the continent.
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/ 29 November 2011
Small traders in India have planned demonstrations over the state’s plan to give companies such as Tesco access to the Indian market.
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/ 26 November 2011
Black Friday turned into mayhem as riotous crowds brawled over video games, waffle irons and towels, drawing international condemnation.
Finance Minister Pravin Gordhan says there will be more certainty about foreign direct investment in South Africa within the next year.
The Supreme Court of Namibia has backed the decision by competition authorities to impose conditions on Walmart’s purchase of SA retailer Massmart.
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/ 3 November 2011
The Shoprite Group continues to lead the pack but the other retailers are pulling out all the stops.
Saccawu says Walmart could pursue its "anti-union philosophy" if its merger with local retailer Massmart goes ahead in its current form.
Blame for the high cost of filling one’s trolley cannot be laid at the retailers’ door
The appeal for a review of the merger between US retailer Walmart and local company Massmart is groundless, say counsel for the merging firms.
The state is set to appeal for a review of the Massmart-Walmart merger today, arguing the deal will have a potentially devastating effect on jobs.
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/ 17 October 2011
Cosatu and Saccawu have announced their intention to embark on "mass pickets" at the Walmart-Massmart appeal hearing in Cape Town this week.
Perspectives on the desirability of Walmart’s entry into South Africa continue to differ wildly.
Cosatu is to picket outside the houses of Pick n Pay chairperson Raymond Ackerman and Western Cape premier Helen Zille over the Walmart-Massmart deal.
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/ 10 October 2011
Saccawu wants Walmart and Massmart to increase their planned fund to support SA suppliers from R100-million to at least R500-million.
Walmart’s acquisition of Massmart will have a "potentially devastating" effect on local jobs, three government departments fighting the merger say.
Massmart Holdings CEO says the South African retailer majority owned by Walmart plans to open 23 new stores in the next eight months.
Walmart’s SA unit Massmart is ready to push down prices and sacrifice margins in pursuit of a bigger market share, its CEO has said.
The DA says the state is overrating the risks the Walmart-Massmart merger poses, while the companies await Competition Appeal Court proceedings.
Government says Walmart’s takeover of Massmart poses a risk to the economy if more stringent conditions are not applied to the merger agreement.
The government remains concerned that the Walmart-Massmart merger will lead to job losses or will stifle job creation, Jimmy Manyi has said.
Government is trying to toughen conditions rather than overturn the Competition Tribunal’s decision on the Walmart-Massmart deal, media reports say.
Saccawu said on Wednesday while they support foreign investment in South Africa, the Walmart-Massmart merge could cost the country a number of jobs.
Three days of public hearings into the R16.5-billion takeover of Massmart by United States giant Walmart got underway at Parliament on Tuesday.