Wal-Mart's Massmart Profit Drops 26% on Currency Pressure

Updated on
  • South African consumers under pressure from inflation, rates
  • Sales up 9.1% in first half for Wal-Mart's South African unit

Massmart Holdings Ltd., the South African food and goods wholesaler controlled by Wal-Mart Stores Inc., said first-half profit fell 26 percent as the company held down prices amid stiff competition and low consumer spending.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.