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July 11, 2013

S AFRICA: Massmart H1 sales up but slowing

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.

By Dean Best

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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