Seeking Alpha

Profits narrow at Massmart

  • Massmart reports 1H profit fell 26% Y/Y to 364M rand ($34.3M) on revenue of 35.8B rand ($3.37B).
  • Comparable-store sales rose 7.1% during the half-year.
  • The company cited a mining strike in South Africa which has impacted consumer spending for low and middle-income families.
  • The South African consumer goods seller is owned by Wal-Mart (NYSE:WMT).
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