Advertise with fastmoving.co.za
 
 

Massmart sales growth climbs
Massmart sales growth climbs

Massmart sales growth climbs

RETAILER NEWS

IOL Business - Jul 11th 2014, 11:58

Johannesburg - Massmart Holdings, South Africa’s biggest food and goods wholesaler, said sales growth rallied during the first half of the year as consumers spent more on building supplies amid a rise in the inflation rate.  

The company, in which Bentonville, Arkansas-based Wal-Mart Stores has a controlling stake, said comparable sales climbed 7.1 percent in the 26 weeks through June 29, compared with a 5.5 percent rise in the first half a year earlier.

Inflation for the period was estimated at 4.8 percent, the Johannesburg-based company said in a statement.
That compares with inflation of 2.9 percent in the prior period.

South African retail-sales growth grew 1.8 percent in April, accelerating from a revised 0.8 percent gain in March.
The country’s inflation in May climbed to 6.6 percent, exceeding the central bank’s three percent to six percent target band for a second month.

Massmart, which owns the cash and carry chain Makro and DIY specialist, Builders Warehouse, reversed a share price decline after the release of the statement.

The stock climbed 0.3 percent to 139.99 rand as of 4:20 pm in Johannesburg.

More than 458,000 shares traded or 182 percent of the three-month daily average.

The company will release full financial results for the period on August 28.From © Independent On-line 2013. All rights reserved. 

Related News

Big Black Friday plans for Dion Wired, Builders and Game in 2019
11/10/2019 - 11:11
Black Friday has grown to be an incredibly important ‘shopping holiday’ for South African retailers with Game and Builders reporting a 24% and 33% sales increase over the period in 2018.

Makro has major plans for Black Friday 2019
09/10/2019 - 09:11
With Black Friday set to fall on 29 November 2019, a number of South Africans have already begun planning their purchases.

Entries now open for the 2nd Sunday Times Lifestyle Gin Awards, in partnership with Makro
13/09/2019 - 08:39
The Awards celebrate the creators and retailers of locally and internationally crafted gins and variants. As with the inaugural competition in 2018, adjudication will take place across both local and international categories.

Makro and Game’s owner suffers big loss as shoppers opt for cut-price goods
29/08/2019 - 09:20
Walmart-controlled Massmart, owner of Makro, Game, Builders Warehouse and Dion Wired, has suffered a headline loss of R550 million for the six months to end-June – after earning a profit of more than R200 million in the same period last year.

SA's best-loved beers revealed at Sunday Times Lifestyle Beer Awards
05/08/2019 - 14:24
CBC Amber Weiss was officially announced as South Africa’s Most Loved Beer at the Sunday Times Lifestyle Beer Awards in partnership with Makro on 2 August 2019, at an event in Johannesburg to celebrate the creators and retailers of local and internationally crafted beers.