Wal-Mart’s South Africa Unit Profit Rises as Food Sales Grow

Updated on
  • Massmart sees tough second half, potential for better 2017
  • Retailer plans to open five new stores outside South Africa

Massmart Holdings Ltd., the South African retailer controlled by Wal-Mart Stores Inc., said first-half profit rose 19 percent as increased food and liquor sales offset slower growth in its general merchandise and home-improvement businesses.

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