Massmart, with total half-year sales of R39.6 billion, comprises two Business Units operating 420 retail and wholesale stores, in 13 sub-Saharan countries. Through our widely-recognised, differentiated retail and wholesale formats, we have leading market shares in the General Merchandise, Liquor, Home Improvement and Wholesale Food markets. Our key foundations of high volume, low cost and operational excellence enable our price leadership.
All statistics reported are inclusive of IFRS 16, in both periods, unless stated otherwise.
*Restated 2019 to apply the SAICA Circular 1/2019 on headline earnings which resulted in a prior year amount of R5.7 million relating to the pre-tax loss arising from the partial or full termination of leases no longer being a headline earnings adjustment. Refer to note 1.