Massmart to strip the fat
Strong sales at Builders Warehouse, Builders Express and Builders Superstores underscore the new strategy
Global retailer Walmart has adopted a razor-sharp focus on its South African retail business, Massmart, shedding brands and reviewing operations in other African countries that are not profitable enough.
Massmart said this week it would sell its Cambridge Food, Rhino and Massfresh grocery assets - an acknowledgement that its strategy since 2011, when Walmart bought a 51% stake in it, to grow its food business and take on the likes of Shoprite and Pick n Pay, has not delivered. Last year in May it closed legacy brand DionWired...