JOHANNESBURG Shoprite Holdings missed full-year earnings forecasts on Tuesday, hit by inventory shortages in South Africa and currency devaluations in the rest of Africa, which overshadowed an improved second half in its home market.
* Major financial restructure of Office is not being
(Recasts with possibility of Office store closures)
* Will consider GDP growth, lease negotiations before
* Shares down 2.1% after hitting year high on Weds
(Adds fintech and instant messaging services)
* Expects loss per share of between 92.4 cents and 129.3
JOHANNESBURG, July 30 Massmart has
warned it expects to make a loss in the first half of the year
as a result of softer than expected sales, margin weakness and
higher expenses, sending its shares to a 13-year low.
* Rest of Africa to log annual trading loss
(Adds details, shares)
JOHANNESBURG The South African unit of cigarette maker Philip Morris International Inc opened its first flagship store in Johannesburg on Thursday, as it tries to grow demand in Africa for its alternative heated tobacco product IQOS.
JOHANNESBURG South African President Cyril Ramaphosa suffered two major setbacks on Friday, when he was accused of misleading parliament and his predecessor Jacob Zuma won significant concessions from a corruption inquiry.
JOHANNESBURG South African retailer Steinhoff reported a 356 million euros ($401 million) half-year loss from continuing operations on Friday, as the damage from a massive accounting scandal drags on.