Massmart says it continues to be impacted by stores damaged in the July 2021 civil unrest.
Massmart expects to post a R1.05-billion to R1.16-billion loss for the 26-week period that ended on 26 June 2022.Excluding its Cambridge, Rhino, and Massfresh operations, the company expects its losses to be between R880 million and R959 million — a year-on-year decline of 11.3% to 21.3%.
“Liquor sales performed strongly, with like-on-like sales on a continuing operations basis increasing by 21.3% over the same period last year,” the company said. “While sales have recovered on a like-for-like basis compared to the same period last year, softer General Merchandise sales have negatively impacted sales contribution in this margin accretive category,” it said.
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