March 3, 2009, 7:15 am
Filed under: Local Company News

March 02, 2009 Edition 1

Massmart Holdings was downgraded on Friday to neutral from overweight by JPMorgan Chase, which said that the food and goods wholesaler could face an “earnings vacuum”. Analyst Sean Holmes said: “We see risk that earnings could be exposed as food inflation decelerates, with risk of deflation in some product categories, while its home improvement business remains under pressure.” The bank expected food inflation to slow to 4.8 percent by the end of this year. – Bloomberg

Massmart strategy targets commuters by Lans
March 3, 2009, 7:13 am
Filed under: Local Company News, Local News

Massmart hopes to get a bigger slice of the half of the grocery market, estimated at R125 billion, that falls outside the biggest retail groups.

As part of this plan, it has acquired a majority stake in a six-store chain that includes Cambridge Food, which serves commuters in Durban’s busy Warwick Triangle.