date:Aug 21, 2013
lly bleak. The Walmart-owned group says growth in earnings per share excluding one-off items and foreign-exchange gains declined 3.9% to 15% in the 26 weeks to June 23.
The company expects headline earnings of between 218c and 234c per share for the period, compared with 148.9c a year earlier. Bentonville, Arkansas-based Walmart acquired 51% of Massmart for $1.8bn in 2011.
According to analysts, the perceived clout of the global giant backing Massmart has had little effect on the local scene i