Food and alcohol sales boost Massmart income
Food and liquor contributed to half the sales of Massmart, South Africa's largest distributor of consumer goods, for the interim period ending December.
Its expansive array of products reflects purchasing trends of South African consumers through its four businesses. While food and general merchandise performed well in the face of tough conditions, home improvements slumped.
Total sales for the group increased 13,1percent while comparable-store sales rose 11,9percent, with under-performing stores closed down.
Masscash, which includes CBW and Jumbo, and Masswarehouse (Makro) produced strong profit growth. Massdiscounters (Game and Dion Wired) performed well supported by a strong performance in Africa.