Massmart sales slowed throughout H1

Massmart sales slowed throughout H1

Sales at South African retailer Massmart, majority-owned by Wal-Mart, increased almost 9% in the first half of its financial year, although growth slowed throughout the period.

Massmart's sales were up 8.9% to ZAR32.2bn (US$3.22bn) in the 26 weeks to 23 June. Comparable-store sales grew 5.5%.

Growth was quicker earlier in the period. Sales in the first 14 weeks of the year rose 10.3%, with comparable-store sales 6% higher year-on-year.

Massmart's half-year results are set to be published on 22 August.

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Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/06)
Share code: MSM
ISIN: ZAE000152617
("Massmart" or "the Company" or 'Massmart Group')

Sales Update for the 26 weeks to 23 June 2013

Shareholders are advised that the Massmart Group`s total sales for the 26
weeks to 23 June 2013 increased toR32.3 billion, representing growth of 8.9%
over the prior comparable 26-week period, with annual product inflation
estimated at 2.9%. Comparable store sales increased by 5.5%.

Total (and comparable) sales growths for each Division for the 26-week
period, and the product inflation rates, were as follows:

* Massdiscounters increased by 9.0% (3.7% comparable) with inflation of
  0.5%;
* Masswarehouse increased by 13.6% (6.9% comparable) with inflation of 2.6%;
* Massbuild increased by 9.0% (9.0% comparable) with inflation of 3.1%; and
* Masscash increased by 5.5% (4.2% comparable) with inflation of 4.6%.

The above information has not been reviewed and reported on by the Company`s
auditors.

Massmart`s reviewed preliminary financial results for the 26 weeks to 23 June
2013 will be releasedon 22 August 2013.

Original source: Massmart