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Massmart total sales up 11.8% to R36.7bn
South African wholesaler Massmart said on Tuesday, 12 May 2009, that for the 44 weeks to 3 May total sales increased 11.8% to R36.7 billion over the prior period, and comparable store sales grew 9.7%. Inflation for the period is estimated at 11.8%.
For the period, Massdiscounters's sales grew 12.5% with inflation of 4.6%, Masswarehouse grew 12.5% with inflation of 13.4%, Massbuild grew 0.3% with inflation of 12.5% and Masscash grew 15.9% with inflation of 16.7%.
In Massdiscounters the recent strength of the local currency has reduced the rate of growth of Game's African stores when reported in rands, although this growth remains very strong, the group noted.
In Masscash the recent change to the BATSA cigarette wholesaling model reduced total sales growth in that division for the 44-week period by approximately 4%. For the same reason the Massmart Group total and comparable sales growths were reduced by approximately 1.3% each.
Massmart said it will release a sales update for the financial year to June 2009 on 6 July.
Published courtesy of
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