Retailer reports 7.7% sales increase
RETAILER Massmart said yesterday that its total sales increased to R91.2 billion, which was a growth of 7.7 percent for the 52 weeks to December 25. The group said comparable store sales rose 5.4 percent, while product inflation was estimated at 6.7 percent. Massmart owns brands such as Game, Makro, Builder’s Warehouse and CBW. The group said there was a slight pick-up in South African sales growth, but foreign sales continued to fall. It said sales at Masswarehouse increased by 11 percent compared with 4.7 percent for the previous corresponding period. Massmart shares added 3.71 percent to close at R131.11 yesterday. – Manyane Manyane
Massmart Holdings, which owns Game, says sales rose last year.