Massmart maintains sales growth despite tough trading conditions
Retail management group Massmart’s sales for the 44 weeks to October 30 increased to R73.2-billion, representing growth of 7.6% over the comparable prior-year period.
The company, which owns local brands such as Game, Makro, Builders Warehouse and CBW, on Tuesday said comparable stores’ sales only increased by 5.3% over the same period.
The Massdiscounters division increased sales by 4.6%, Masswarehouse division sales were up by 10.7%, Massbuild division sales rose 5.7% and the Masscash division increased sales by 7.9%.
Sales growth was, however, slower than in the prior year, owing to tough trading conditions in South Africa and, more recently, in most other African countries where the group operates.
It added that although slowing marginally, food and liquor sales continued to perform well, while Massbuild was showing signs of a sales recovery.
However, general merchandise sales remain compromised by low consumer confidence, drought-affected food inflation and higher-priced imported products.
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