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MASTERCARD (MA)
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MasterCard : Retail sales show resurgence in August

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10/06/2017 | 03:04am CET

Nominal retail sales for August 2017 grew a substantial 8.1% versus the same month last year... Adjusting for inflation, volume retail sales for August increased 3.7% year-over-year, representing the strongest monthly growth in over four years. Compared to July 2017, August nominal retail sales grew 2% while inflation-adjusted sales grew at a similar rate of 1.9%.

“August retail sales show an improvement in consumer spending, with South Africans benefiting from a moderation in inflation, and some recovery in industries such as agriculture and mining,” says Sarah Quinlan, senior vice president and group head of market insights for Mastercard.

Over the last 12 months, inflation-adjusted retail sales rose 0.6% in line with GDP growth, which is forecast to increase to 0.7% in 2017.

“With unemployment reported at 27.% in the second quarter, South African consumers are still under pressure. Despite this, they are showing increased resilience as SpendingPulse August 2017 data points to the third month of improving retail sales. A resurgence of consumer spending in South Africa could help spark wider economic growth and encourage businesses and government to also start investing,” she says.

Sector performance

Looking at specific retail sectors, General Dealer nominal sales grew 10.5% for the month versus August 2016, with inflation-adjusted sales rising by 2.7% for the same period.

“August sales in the General Dealer segment have shown the highest growth since November 2015, indicating that consumers are slowly starting to increase their spending on essentials such as food and household items,” says Quinlan.

While Pharmaceutical, Medical Goods, Cosmetic and Toiletry sales in August declined compared to July 2017, August year-over-year nominal sales did show positive growth of 7.6%, with inflation-adjusted figures growing by a slight 0.4%.

Mastercard SpendingPulse South Africa reports on national retail sales and uses aggregated and anonymous Mastercard transaction data, coupled with survey-based estimates for other payment forms including cash and cheque.

(c) All rights reserved. 2017. Bizcommunity.com Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 12 448 M
EBIT 2017 6 798 M
Net income 2017 4 868 M
Finance 2017 1 161 M
Yield 2017 0,54%
P/E ratio 2017 37,01
P/E ratio 2018 30,84
EV / Sales 2017 14,2x
EV / Sales 2018 12,6x
Capitalization 178 B
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MasterCard Technical Analysis Chart | MA | US57636Q1040 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 168 $
Spread / Average Target -0,21%
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Managers
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Ajay Banga President, Chief Executive Officer & Director
Richard Neil Haythornthwaite Chairman
Edward McLaughlin President-Operations & Technology
Martina Hund-Mejean Chief Financial Officer
Silvio Barzi Independent Director
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