Skip to main content

Retailers report exciting results off good festive season trade

| Economic factors

Retailers Woolworths and Massmart have separately reported excellent results on Thursday, as South Africa's retailers come off a strong festive season.

Woolworths expects first-half profit to increase by 25% to 35% year-on-year with sales also forecast to rise, the company said in a trading update on Thursday. 


Woolworths said that without including the impact of David Jones, whose acquisition was effective in August 2014, group sales grew by 12.3%.

Woolworths will publish its half-year results on February 11.

Massmart said on Thursday its full-year sales rose by 8.4% to R84.7bn.

The continent’s third retailer said comparable store sales jumped by 6.7%. South Africa’s retailers have largely benefited from strong festive season sales.

The Walmart-controlled firm is due to publish its interim results on February 25.

 

Pin It

Related Articles

By: Hanno Labuschagne - MyBroadband An anticipated strengthening of the rand and slipping global oil prices could result in lower petrol prices at the pumps next month.
By: Myles Illidge - MyBroadband Eskom has asked the National Energy Regulator of South Africa (Nersa) for a 36.15% electricity tariff hike for the customers it directly supplies and charges, Daily Maverick reports.
By: Yogashen Pillay – The Mercury Economists are predicting a big drop in petrol and diesel prices next month, saying it will bring much-needed relief to under-pressure consumers.
By: Jason Woosey - IOL Petrol and diesel prices are set to come down from Wednesday, June 5, according to a statement released by the Department of Mineral Resources and Energy (DMRE).
By: Opinion – IOL Business Report South Africans have been collectively waiting with bated breath for some small financial reprieve from the relentless price hikes of the past few years that have driven them to the brink of despair, chief among t...