MSM: MASSMART HOLDINGS LIMITED - Sales Update For The 9 Months Ended 27 September 2020
MSM: MASSMART HOLDINGS LIMITED - Sales update for the 9 months ended 27 September 2020 Sales update for the 9 months ended 27 September 2020 Massmart Holdings Limited (Incorporated in the Republic of South Africa) Company registration No. 1940/014066/06 JSE Code: MSM ISIN: ZAE000152617 ("Massmart" or the "Company" or "the Massmart Group") SALES UPDATE FOR THE 9 MONTHS ENDED 27 SEPTEMBER 2020 Shareholders are referred to the Massmart Group´s interim results update released on SENS on 27 August 2020. Massmart hereby provides an update on year-to-date sales for the 9 month period ended 27 September 2020. The further easing of Covid-19 related trading restrictions marked slightly better trading conditions for the 3rd quarter of 2020. While we saw an increase in foot traffic in most of our stores, the re-introduction of a full ban on liquor sales from mid-July to mid-August had a negative impact on Massmart´s total sales. The Company estimates that this ban resulted in lost liquor sales over this period of approximately R1.1 billion when compared to the same period last year, which brings the total estimated lost sales as a result of Covid-19 sales restrictions to at least R5.7 billion, when compared to the same period last year. Total sales for the 9 months ended 27 September 2020 amounted to R60.5 billion, representing a decrease of 8.9% on the same period last year, while comparable store sales decreased by 8.8%. Internal product inflation is estimated at 4.5%. Total sales from Massmart´s South African stores decreased by 9.4% (decreased by 8.8% on a comparable stores basis), while total sales from Massmart´s rest of Africa stores decreased by 3.8% (decreased by 5.0% on a comparable stores basis). On the back of H1 total sales decreasing by 9.7% in total, 3rd quarter sales, including the impact of the full liquor sales ban, decreased by 7.2%. This sales update information has not been reviewed or reported on by the company´s external auditors. 23 October 2020 Sponsor JP Morgan Equities South Africa (Pty) Ltd Date: 23-10-2020 03:19:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.