South Africa-based, Walmart-owned Massmart has provided an update on its trading and discussed its current initiatives as it looks to conserve cash given the prolonged lockdown caused by the coronavirus (COVID-19) pandemic. Sales fall 11.9% due to lockdown in South Africa Massmart reported that total sales for the 19 weeks ended 10 May fell 11.9% versus the same period in 2019. It said tota...

SPAR South Africa has released a trading update and trading statement providing mixed news from the company. While it reported strong revenue growth, the company said its basic earnings per share and headline earnings per share were set to fall. Positive revenue growth seen across all geographies… SPAR South Africa said it had enjoyed revenue growth of 10.1% in the six-month period to the e...

Jumia, the Africa-based pure play ecommerce retailer, generated gross merchandise value (GMV) sales of €189.6m in its first quarter, 11.3% down on the same period in 2019. The fall in GMV came despite a 51% rise in the number of annual active consumers and a 27.7% increase in the number of orders made on its sites. Focus on profitability hindered GMV growth… Jumia noted its decision to reba...