Massmart Sales Climb as South Africans Look to Home Improvements
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Massmart Holdings Ltd., the South African food and goods wholesaler owned by Wal-Mart Stores Inc., said sales rose as consumers spent more on building supplies, boosted by higher prices.
Comparable sales climbed 7.3 percent in the 44 weeks through Nov. 2, compared with a 4.3 percent rise in the 46 weeks through Nov. 10 last year. Product inflation for the period was estimated at 4.9 percent, the Johannesburg-based company said in a statement.