Massmart 13-week total sales up 9.5% y/y

Massmart (MSM) said on Friday, 24 April 2015, that total sales in the 13 weeks to March rose 9.5% from a year ago.

The retailer said recent sales trends were adversely affected by the 21 March public holiday falling on a Saturday this year‚ rather than the Friday as was the case last year.

Comparable sales increased by 7.4% in the review period from a year-earlier period.

The company said it was concerned about the "relatively fragile South African consumer economy" and effect of lower oil prices on the larger African countries that depended on oil for revenues.

Source: BDpro via I-Net Bridge