S.A retailers' trading updates a mixed bag

(Reuters) – South African retailer Massmart said on Thursday its full-year sales rose by 8.4 percent to 84.7 billion rand ($5 billion).

The continent’s third retailer said comparable store sales jumped by 6.7 percent. South Africa’s retailers have largely benefited from strong festive season sales.

The Walmart-controlled firm is due to publish its interim results on February 25.

Woolworths trading update

South Africa’s high-end retailer Woolworths expects first-half profit to increase by 25-35 percent year-on-year with sales also forecast to rise, the company said in a trading update on Thursday.

Woolworths, which sells products similar to those of Britain’s Marks and Spencer, said that without including the impact of David Jones, whose acquisition was effective in August 2014, group sales grew by 12.3 percent.

Headline earnings per share (EPS) is the main profit measure used in South Africa that strips out certain one-off times.

Woolworths will publish its half year results on Feb. 11.

($1 = 16.6493 rand)