Massmart to open 23 new stores over eight months

Johannesburg, South Africa — A Bloomberg report on Sunday said that Massmart Holdings Ltd., the South African retailer controlled by Wal-Mart Stores, Inc., will open 23 new outlets over the next eight months, part of its plan to not only expand its coverage area but also to add jobs in the region. The plan calls for 15,000 jobs over the next three years.

The retailer also said it will repeat a price-cut promotion at its stores.

Massmart reduced prices for 10 weeks starting in July, shortly after Wal-Mart’s acquisition of a controlling stake was approved by South African authorities.

Login or Register to post a comment.