2021/05/20, 07:05:00
Johannesburg Stock Exchange - SENS NEWS DELAYED
Sales update for 19 week period ended 9 May 2021

Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/06)
Share code: MSM
ISIN: ZAE000152617
(‘Massmart’ or ‘the Company’)


Massmart’s total sales for the 19-week period ended 9 May 2021 amounted to R30.5 billion and represents
an increase of 8.0% over the prior year, with comparable store sales increasing by 8.4% over the same
period. Sales from our South African stores amounted to R27.9 billion, increasing by 10.1% on the prior
year, with comparable store sales increasing by 10.7%. Total sales from our ex-South Africa stores
amounted to R2.6 billion, translating to a 10.1% decline in Rand terms compared to same period last year,
with comparable stores decreasing by 11.2%. On a constant currency basis, sales from our ex- South Africa
stores were flat year-on-year. Sales over the same period in 2020 were impacted by trading restrictions as
a result of the COVID-19 level 5 lockdown becoming effective from 27 March 2020 until 30 April 2020.

Whilst the continued easing of Covid-19 related trading restrictions marked slightly better trading conditions
for the 19 week period ended of 2021, sales were still impacted by a ban on liquor trading in January and
over the Easter Weekend period. We estimate the impact of the restriction of liquor sales to be around
R770 million when compared to same period in the prior year, mostly impacting our Makro and Cash &
Carry businesses.

In Makro, total sales increased by 16.6% over the prior year. Whilst food sales are under pressure as a
result of ongoing lower activity in the corporate, hospitality, restaurant and catering industry, liquor and
general merchandise sales have performed well. Sales in our Cash & Carry business amounted to R6.7
billion, and was marginally lower than the same period last year, with similar challenges relating to food
sales being experienced.

Builders have continued to see strong sales performance, with total sales of R4.9 billion being 39.4% better
than last year, driven mainly by strong retail demand. Trade sales continue to be muted. Builders was
restricted from trading for most of April 2020. Whilst most product categories in Builders have performed
well, we especially see strong sales in paint, home improvement, garden and patio goods, indicative of
consumer’s ongoing focus on investing in their living spaces.

Foot traffic in most super and regional malls remain depressed, as consumers prefer to avoid crowded
indoor spaces in light of COVID-19 infection concerns. Consequently, given its relative high presence in
these locations, Game has experienced pressure on sales. Consequently, Game’s total sales of R5.6 billion
was 3.3% lower than the same period last year.

Total sales in Cambridge of R2.7 billion were 8.4% lower than the same period in last year. Sales trends
indicate that customers in this segment of the market are mostly impacted by the pressures of increased
unemployment and lower disposable income.

The information above has not been audited or reviewed or otherwise reported on by the Company’s
external auditors.

20 May 2021

J.P. Morgan Equities South Africa (Pty) Ltd

Date: 20-05-2021 07:05:00
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