MASSMART - SALES UPDATE FOR THE 26 WEEKS TO 26TH D
MASSMART - SALES UPDATE FOR THE 26 WEEKS TO 26TH DECEMBER 2004
MASSMART HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/05)
Share code: MSM
ISIN: ZAE000029534
(`Massmart` or `the company`)
Sales update for the 26 weeks to 26th December 2004
Accelerating general merchandise sales from mid December increased Massmart`s
total sales to R13.9bn, a growth of 13.8%. Sales before acquisitions grew 11.4%
and comparable store sales grew 8.2%.
With overall sales deflation of 1.9% (comprising inflation of 0.5% in food, 7.9%
in liquor and deflation of 5.6% in general merchandise), total volume growth of
15.7% was in line with merchandise plans.
Real sales growth of 10.1% in comparable stores compares favourably with 8.5%
for the same period in 2003 and resulted from the Group`s retail general
merchandise chains (targeting middle to upper income consumers) achieving
comparable store sales growth more than double that of the wholesale food chains
(whose merchandise is ultimately purchased by lower income consumers). Nominal
sales growth, including acquisitions, was almost identical for retail and
wholesale.
Shareholders should note that Massmart defines a comparable store as one that
has been open for the entire comparable period in the previous year.
The above information has not been reviewed or reported on by the Company`s
auditors.
Massmart`s interim results to December 2004 will be published on the 24th
February 2005.
Johannesburg
10 January 2005
Sponsor
Deutsche Securities (SA) (Pty) Ltd
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