Taking Massmart private may help Walmart cut costs and invest in the company that owns brands including Makro and Builders without the scrutiny that comes with being a public company.
“There is no question that Amazon is going to intensify competition in the market,” Slape said at a briefing on Monday.
“It’s going to be interesting to see if they come out now very aggressively against other retailers from a buyer perspective.”at the Johannesburg-based company. Still, Game is struggling, even after the broad cost cuts, and the broader business has faced a string of difficulties ranging from pandemic-induced supply chain problems to a week of deadly South African riots a year ago.Massmart on Monday also reported a first-half net loss of 1.1 billion rand, widening from a loss of 1.09 billion rand a year earlier. The company also has 14.9 billion rand of debt as of Dec. 31, according to data compiled by Bloomberg.
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