Massmart releases a sales update for the 52 weeks to 27 June 2010? And the outcome from the company release is a whopping: "R47.5 billion, representing growth of 10.1% over the prior year's 52-week period, with overall deflation estimated at 0.4%. Comparable store sales increased by 2.6%. Excluding African sales from both periods, the Group's total sales and comparable store sales increased by 12.1% and 4.5% respectively."
And here is the picture across the divisions, if you forgot or need a refresher on the breakdown, then visit Massmart's website. Here goes: "Divisional total sales growth for the 52-week period to 27 June 2010 (comparable sales are shown in brackets) were as follows:
- Massdiscounters increased by 8.5% (3.2%) with estimated deflation of 4.2%;
- Masswarehouse increased by 3.6% (3.6%) with estimated inflation of 2.8%;
- Massbuild increased by 13.9% (3.4%) with estimated inflation of 1.8%; and
- Masscash increased by 14.5% (0.6%) with estimated deflation of 0.6%." I would say on balance neutral for where we are now, but as Paul pointed out, if you had said this time last year that sales would be nearly 48 billion Rands, most would have said that was too bullish.
This is amazing. These are one month's worth of June Sales: How Retailers Fared. See Costco's one month sales more than Massmart's annual sales. Obviously they have access to a much broader base of wealthier people, but I am just saying.