Tourism: South Africa’s travel restriction hurts Massmart revenue as company posts lower sales due to reintroduction liquor sale ban

Massmart

South African retail giant Massmart has posted lower nine-month sales on Friday due to COVID-19 restrictions, imposed in the country, which included a 1.1 billion rand hit from the reintroduction of a liquor sale ban.

Massmart said total sales fell 8.9% to 60.5 billion rand ($3.73 billion) for the nine months ended Sept. 27, but added conditions were improving on easing of virus-led curbs. ($1 = 16.2294 rand)

by Tanishaa Nadkar
Source: reuters.com

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