June 17, 2020 / 5:26 AM / 21 days ago

S.Africa's Massmart warns of 50% deeper half-year loss due to virus

JOHANNESBURG, June 17 (Reuters) - South Africa’s Massmart expects its half-year loss to increase at least 50% because of a substantial hit from a nationwide lockdown on sales, the retailer said on Wednesday.

Massmart, majority owned by Walmart, said it expected its headline loss per share in the 26 weeks to June 28 to be at least 182.4 cents worse than the year earlier loss of 364.7 cents.

Headline earnings per share is the main profit measure in South Africa. (Reporting by Emma Rumney; Editing by Clarence Fernandez)

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