The original article can be found here.
Article highlights:
- Massmart announced in a trading update on Friday that it expected its headline loss to widen up to 70%, in the 52 weeks ended December 26, 2021 knocked by the effects of the July unrest which resulted in store damages and lower trading income.
- The market was not happy, which saw shares slide 2.99% to close at R52. The shares are now 41.57% lower than in the past three years.
- The headline loss, which excludes the Cambridge, Rhino, and Massfresh businesses was expected to decrease by between 60% and 70%.
