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Real Economy News in Real Time
R/€ = 15.06 Change: -14.91
R/$ = 12.92 Change: -12.79
Au 1255.03 $/oz Change: 1.19
Pt 936.50 $/oz Change: 2.50
 
 
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Massmart reports a slow 0.5% increase in H1 sales

17th July 2017 BY: Anine Kilian
Contributing Editor Online

Massmart’s sales for the six months ended June 25, grew by 0.5% year-on-year to R42.5-billion.

Comparable store sales decreased by 1.6% and product inflation was estimated at 3.2%.

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At group level, sales growth in food was 3%, while growth in nonfood items such as general merchandise, home improvement and cellular, contracted by 2.9%, the company said in a statement on Monday.

Total and comparable sales growths from its South African stores were 1.7% and -0.2% respectively.

Total and comparable sales growth from its African stores, excluding South African stores, measured in the local African currencies were positive, while in rand terms, sales contracted by 11.9% and 14.1% respectively.

Massmart’s interim financial results will be released on August 24. 

EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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