Massmart sales severely hit by Covid-19 impact
JOHANNESBURG – Massmart
reported that sales for the 19 weeks ended May 10 were severely hit due to Covid-19 regulations limiting trade in the majority of general merchandise, home improvement, and alcohol products.
reported that sales for the 19 weeks ended May 10 were severely hit due to Covid-19 regulations limiting trade in the majority of general merchandise, home improvement, and alcohol products.
Massmart whose stores include Game, Makro, and Builders Warehouse today reported R25.3 billion in sales from its South African operations during the period under review, a 13.1 percent slump compared to last year. Group sales fell 11.9 percent with comparable-store sales down 12.1 percent lower compared to last year.
“Massmart was unable to trade in the majority of general merchandise, home improvement, and liquor products for most of April. These untradeable product categories represent a significant portion of our overall merchandise offering,” said the company.
Source: iol.co.za
