South Africa-based, Walmart-owned Massmart has released a sales update and trading statement for the 26 weeks ending 28 June, which highlights the impact of COVID-19 on its performance and its expected loss for the period. Total sales fell 9.7% in H1 2020… Massmart said while it had enjoyed an uptick in sales in June, with total sales rising 0.8% versus the same month in 2019, this was not ...

At a corporate level, UAE-based Majid Al Futtaim saw a fall in revenue of 3%, to AED17.3 bn (US$4.7 bn), and a 27% decrease in its EBITDA, to AED1.6 bn (US$435.5m), in the first half of its financial year. In its results, its Retail division was a bright spot, with Majid Al Futtaim Retail reporting a rise in revenue and EBITDA. Majid Al Futtaim sees stark differences during first half The c...

Pure play retailer Jumia has reported second quarter results, with gross merchandise volume (GMV) showing a 13.2% fall to €228m. As the retailer pushes for profitability, it highlighted how during the quarter its operating loss had also fallen, by 44% year-over-year, while its gross profit increased year-over-year, by 38%, to €23.3m. Annual Active Consumers hits 6.8m in Q2 2020 A focus for ...