Massmart posts a decline in profit as consumers spend less
Massmart has posted a decline in profit as consumers spent less, the JSE-listed wholesaler said on Thursday.
Amid the ever-growing concerns about the financial health of the industry, the January sales at most of the popular US retail stores fell sharply, with the notable exception of the world's largest retailer Wal-Mart, which posted a 2.1 percent rise that exceeded the analysts' estimates.