Massmart has posted figures for the first 44 weeks of the year. While food and liquor sales have held their own, GM has lagged, and this has made for an overall sales growth across the group of 5,3% excluding new stores, against internal inflation of 6.4%.
Here’s the breakdown of the divisions, excluding new stores:
* Masswarehouse (Makro and Fruitspot) – 7.5%
* Masscash (Jumbo, Shield, CBW, Cambridge etc.) – 8.5% after store closings
Massbuild (Builders Warehouse, Builders Express etc.) – 1.1%
Massdiscounters (Games, DionWired ) – 0.5%
Even a business as diversified as Massmart has been unable to escape the worst effects of this thing which must not be called a recession.
Source: Trade Tatler