Wal Mart
latest news & developments
Massmart profit dragged down by Game stores
The Wal-Mart-owned retailer Massmart has missed profit estimates as a result of disappointing performance from Game.
Grocers trade at lowest in three years as profits stall
Food retailers are trading at the cheapest premium to the nation’s benchmark stocks index as economic factors curb their profit growth.
Wal-Mart’s Massmart sales growth slows as spending drops
SA food and goods wholesaler Massmart says sales growth has decreased during the first half of the year amid a downturn in consumer spending.
Walmart not making massive dent
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.
US union lent a hand in Walmart battle
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.
Walmart merger outcome widely welcomed
The government has roundly welcomed the ruling on the Walmart/Massmart merger and appears unlikely, at present, to take the matter to court.
Court dismisses government’s Walmart appeal
The Competition Appeal Court has dismissed the state’s appeal against the Walmart-Massmart merger, but acknowledged legitimate concerns over the deal.
Namibia gives Walmart merger the nod
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.
Shoprite’s first-half profits up by nearly 20%
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.
All eyes on SA, Walmart appeal
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.
India’s plan to bring in Western retailers sparks fury
Small traders in India have planned demonstrations over the state’s plan to give companies such as Tesco access to the Indian market.
Riotous crowds mar US Black Friday shopping
Black Friday turned into mayhem as riotous crowds brawled over video games, waffle irons and towels, drawing international condemnation.
Gordhan predicts improved foreign investment
Finance Minister Pravin Gordhan says there will be more certainty about foreign direct investment in South Africa within the next year.
Namibian court issues strict conditions on Walmart
The Supreme Court of Namibia has backed the decision by competition authorities to impose conditions on Walmart’s purchase of SA retailer Massmart.
Big five fight for food market share
The Shoprite Group continues to lead the pack but the other retailers are pulling out all the stops.