South African grocery retailer Massmart has reported an 11.7% increase in full-year sales.
The retailer, in which Wal-Mart Stores recently acquired a controlling stake, said on Thursday (7 July) that its comparable-store sales were up 5.2% for the year to 39 June, despite prices estimated to have fallen 1.3%.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Massmart said sales at its Makro banner were up 10.5%, or by 6.9% on a comparable-store basis.
Massdiscounters, its general merchandise division reported a 9.4% rise in sales over the year. The chain’s comparable-store sales climbed 3.7%.
The retailer’s DIY chain Massbuild reported an 14.1% increase and a 7.2% rise on a comparable-store basis.
Massmart’s wholesale division Masscash saw sales rise 13.1%. Comparable-store sales climbed 4.1%.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
