Massmart sales up despite closureComment on this story
Johannesburg - Massmart increased retail sales by 9.7 percent to R72.2 billion in the 53 weeks to December 29 last year compared with the 52 weeks to December 23, 2012, the retailer said yesterday.
For equivalent 52-week periods, growth was 7.5 percent and comparable store sales grew 3.8 percent.
Full-year sales at the Massdiscounters division, which includes Game, grew 8.6 percent and Masswarehouse, housing Makro, grew sales 14.1 percent.
Sales grew 11.9 percent at the Massbuild division, which includes Builders Warehouse, and 6.5 percent at Masscash, home of Jumbo Cash & Carry.
Massmart said the estimated net sales lost due to closing all stores on December 15 in honour of Nelson Mandela’s burial were about R200 million.
“These closures affected group total and comparable store sales growth for the period by about 0.3 percent.”
Sales in Massdiscounters stores were most affected by these closures, while Masscash was least affected.
Massmart shares rose 5.48 percent to R131.85 yesterday. – Nompumelelo Magwaza