Massmart 14-week sales up 11.4%

Massmart (MSM) said on Tuesday, 29 April 2014, total sales for the 14 weeks to 6 April 2014 increased by 11.4% and comparable sales rose by 7.1%.

The retailer said this was a much stronger start to the financial year than anticipated.

"Whilst too early to be confident about this new trend‚ the strong start suggests a better overall performance this year than last year‚" the company said.

"We are much more positive about the business as we reap the rewards from the operational focus of last year‚" it said.

At 1.42pm the stock was up 0.7% at R136.10 on the JSE‚ valuing the retailer at about R26.54bn.