Massmart’s Game continued to underperform, weighing on profitability, as sales of durable goods fell due to pressure on consumers. “As middle- and lower-income customers are struggling, selling them general merchandise and durables is very, very difficult. Customers don’t have enough money so they’re spending it on food and increasingly less on durables,” Massmart CEO Guy Hayward said yesterday. Dirk van Vlaanderen comments on Massmart’s results.
view article