By Planet Retail2010-09-02T18:23:00+01:00
Retailer Massmart has published its full-year results to June 27.
Group net sales amounted to R47.5bn (£4.2bn), representing growth of 10% year-on-year. Like-for-like sales increased by 2.6%.
US private equity firm Lone Star has reportedly dropped out of the bidding war to purchase Asda, leaving asset manager Apollo as the leading suitor.
US president Donald Trump has poured cold water on the mooted Oracle and Walmart takeover of TikTok, demanding the US companies have total control over the app.
Zara owner Inditex swung back into the black during its second quarter, despite the ongoing impact of the coronavirus pandemic.
With both Tesco and Superdry pulling out of international ventures on the same day, Retail Week asks whether UK retail is scaling back its global ambitions.
The coronavirus crisis will wipe $2.1trn (£1.7trn) off of global retail sales in 2020, new data has predicted.
The coronavirus outbreak has sparked fears and headlines worldwide since emerging in the Chinese city of Wuhan at the start of the year.
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