That Massmart trading update you didn't even know you wanted, but now that it’s here, you’re… what? Oh, sorry. Like store sales up 7.4% for the totally random first 20 weeks of the FY we have no choice but to call ’15, much of this, rather thrillingly, due to growth in market share. Either that or the discovery in a hidden valley of the Magaliesberg, of a lost tribe of low-to-middle LSM consumers with a mysterious new source of disposable income. Total sales growth for the period was 9.5%, which under the circs is at least 20 weeks’ worth of respectable. Massbuild, with total sales growth of 15.5% and Makro at 11.6% were the star performers, while Masscash Wholesale at 2.8% was emphatically not. At the AGM, showing himself to be no pushover, new CEO Guy Haywood took a thinly veiled jab at “The Others”, over the mall exclusivity issue: “Some major food retailers continue to defend lease exclusivities, thereby inhibiting competition,” he cheekily said.
Comment: Throwdown! As Massmart advance further into grocery territory, expect more of the same.