Walmart’s Mitchell Slape will take over as CEO after he gets approval to work in SA
Makro store in Midrand, Johannesburg. Picture: SOWETAN/ANTONIO MUCHAVE
Massmart, which was bought by US retail giant Walmart in 2011, said it had seen “weak and variable sales trends” in recent months.Operating profit after restructuring costs, nontrading items, foreign-exchange movements and interest paid could fall by 60%, due in part to currency losses.
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