South African grocery retailer Massmart has reported an 11.7% increase in full-year sales.
The retailer, in which Wal-Mart Stores recently acquired a controlling stake, said on Thursday (7 July) that its comparable-store sales were up 5.2% for the year to 39 June, despite prices estimated to have fallen 1.3%.
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Massmart said sales at its Makro banner were up 10.5%, or by 6.9% on a comparable-store basis.
Massdiscounters, its general merchandise division reported a 9.4% rise in sales over the year. The chain’s comparable-store sales climbed 3.7%.
The retailer’s DIY chain Massbuild reported an 14.1% increase and a 7.2% rise on a comparable-store basis.
Massmart’s wholesale division Masscash saw sales rise 13.1%. Comparable-store sales climbed 4.1%.
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