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Shoprite, Massmart report contrasting figures

The Shoprite and Massmart groups have reported contrasting figures for their most recent fiscal periods, highlighting the disparities in the South African market.

For the year ending 2 July, Shoprite saw overall (calendar-adjusted) sales grow by a solid 10.4% to 140.7bn rand, on like-for-like growth of 5.8%.  Sales at its South African supermarkets were up 10.1% (+6.9% LFL), while its international supermarkets recorded growth of 13.5% (+33.8% on a constant-currency basis), on LFL growth of 1%.

The group noted that its results were helped by slowing inflation in its home market, and lower commodity prices in other markets.  However, it described trading conditions in South Africa during the second half as “challenging”.

Meanwhile, the Walmart-owned Massmart saw its first-half sales edge up 0.5% to 42.5bn rand, while like-for-like sales declined by 1.6%.  In comparison, the group saw its sales grow by 8.7% in the same period last year.

Sales at its South African stores grew by 1.7% (-0.2% LFL), while sales in other countries fell by 11.9% (-14.1% LFL).  Food sales were up 3%, but this was offset by a 2.9% decline in non-food sales.

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