There was a sales update from Massmart yesterday indicating that the festive season was just right, not bad at all in fact. Here is another copy paste job:
"The Group's total sales for the 26 weeks to December 2010 increased to R27.5 billion, representing growth of 13.3% over the prior 26-week period, with year-to-date deflation estimated at 2.9%. Comparable store sales increased by 7.3%. Total (and comparable) sales growths for each Division for the 26-week period, and the financial year-to-date inflation rates, were as follows:
* Massdiscounters grew by 14.4% (9.0% comparable) with deflation of 8.2%;
* Masswarehouse grew by 10.7% (7.8%) with deflation of 1.2%;
* Massbuild grew by 18.6% (11.8%) with inflation of 0.3%; and
* Masscash grew by 12.4% (4.2%) with deflation of 1.3%."
I am quite sure that this number will not only be better than a lot of folks think, but also might be ahead of their peers. The day after I got back I went to Builders Warehouse to get a few things and the place was packed. Absolutely packed. It must have been like every Joburger on staycation (I got back early) had decided that Builders Warehouse was a good place to hang out!!