What contributed to Massmart’s slump in full year headline earnings?

Retailer, Massmart reported its annual results today. Recording a slump of over 31% in headline earnings. The slump is due to lower than expected sales and a higher expense growth. As a result, the group has slashed its dividend by over 40% to 208 cents.

Business Day TV spoke with Massmart CEO Guy Hayward for the nitty gritty behind the headline numbers