Massmart announces 7.7% sales growth

Cape Town - Massmart Holdings [JSE:MSM] announced in a sales update released on Monday that total sales for the 52 weeks to December 25 2016 increased to R91.2bn, representing a growth of 7.7% over the prior year 52-week period.

Comparable store sales increased by 5.4%. Product inflation is estimated at 6.7%. As a general remark on recent trends, there was a slight pick-up in South African sales growth but a continued decline in non-South African sales growth. Total (and comparable) sales growths for each division for the 52-week period, and product inflation rates, were as follows:

- Massdiscounters increased by 5.3% (1.5% comparable) with inflation of 4.8%;
- Masswarehouse increased by 11.0% (7.6% comparable) with inflation of 6.5%;
- Massbuild increased by 5.6% (1.7% comparable) with inflation of 4.7%; and
- Masscash increased by 7.5% (7.9% comparable) with inflation of 9.3%.

Massmart's audited financial results for the 52 weeks to December 25 2016 will be released on February 23 2017.

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